M&A
Indo National sells 51% stake in composites maker Kineco for Rs.220-Cr
Indo National Limited (formerly, Nippo Batteries Company Limited), via its subsidiary Helios Strategic Systems Limited, has sold its 51% stake in Goa-based composite manufacturer Kineco Limited to a consortium of investors for a consideration of INR 220 crores. Veda Corporate Advisors was the financial advisor to Indo-National Limited on this transaction.Kineco Group is India's leading composites business offering a wide range of products and processing technologies for defence, railways and industrial application. It also has a joint venture with Kaman Aerospace Group, USA, which is into manufacturing advanced composites for the medical and aerospace industries.
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