Infra equipment co. TIL to be acquired by Gainwell Group

Gainwell Group, via its unit Indocrest Defence Solutions Private Limited, is to acquire Kolkata-based, publicly listed TIL Ltd. TIL is a provider of a range of Material Handling and Port Equipment. It has plants at Kamarhatty and Changual, West Bengal. TIL had reported a Revenue of INR 64.99 Cr for FY22 (down from INR 312.40 Cr in FY21).It reported a Net Loss of INR 416.48 Cr (compared to a loss of INR 67.02 Cr in FY21)