Raymond Group is making a big move in the engineering world by buying a major stake in Maini Precision Products Ltd. They're spending about Rs 682 crore on this deal. This is happening through a company called Ring Plus Aqua Ltd, which is a part of JK Files and Engineering Ltd.
After the purchase, Raymond will combine a few companies, including JK Files, RPAL, and MPPL, to create a new company called Newco. Raymond will own most of Newco, around 66.3%, and it will focus on making very precise engineering products.
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Maini Precision Products Ltd does really specialized work in aerospace, electric vehicles, and defence. Raymond is paying for this deal using a mix of borrowed money and money they've earned.
This move is a smart one for Raymond because it helps them grow in the engineering field. They're teaming up with a business that works in some of the hottest industries like aerospace, electric vehicles, and defence. Together, they'll serve big companies that make things like planes, cars, and industrial equipment.
The founder of MPPL, Gautam Maini, will lead the new combined engineering business. This acquisition opens up exciting opportunities for Raymond in the fast-growing areas of aerospace, defence, and electric vehicles.
In a nutshell, Raymond Group is making a smart move by teaming up with Maini Precision Products Ltd. This will help them grow in the engineering world, especially in high-demand areas like aerospace and electric vehicles. With Gautam Maini leading the way, they're set to do great things in these exciting industries.
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