M&A
‘Nippo’ battery maker Indo National sells its 51% stake in Kineco for Rs.220-Cr
Chennai-based Indo National Ltd , a manufacturer of consumer electrical products and dry cell batteries under brand ‘Nippo’, has divested its entire 51% stake in Goa-based Kineco Ltd , a composites manufacturer, for INR 220 crore. Kineco manufactures composites for railways, industrial applications and defence.The manufacturer will use the funds in aerospace and defence industries, as well as across diverse categories of the fast-moving consumer goods (FMCG) sector.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
