Brief: Raymond Group To Acquire Business Of Maini Precision Products For 6.82 Bln Rupees

Raymond

03/11/2023 06:33

Nov 3 (Reuters) - Raymond Ltd  RYMD.NS :
    * RAYMOND LTD - RAYMOND GROUP TO ACQUIRE BUSINESS OF MAINI
PRECISION PRODUCTS LIMITED
    * RAYMOND LTD - FORAY INTO SUNRISE SECTORS OF AEROSPACE,
DEFENSE
AND EV COMPONENTS BUSINESS
    * RAYMOND LTD - STRATEGIC ACQUISITION OF 59.25% STAKE IN
MPPL
BUSINESS FOR A CONSIDERATION OF 6.82 BILLION RUPEES
    * RAYMOND LTD - RAYMOND GROUP TO CONSOLIDATE ITS ENGINEERING
BUSINESS OF JK FILES, RPAL AND MPPL UNDER ONE ENTITY BUILDING
SCALE AND SIZE
    * RAYMOND LTD - ACQUISITION BEING FUNDED BY MIX OF DEBT AND
INTERNAL ACCRUALS, GROUP TO REMAIN NET CASH POSITIVE POST
ACQUISITION
    * RAYMOND LTD - ACQUISITION WILL BE CONCLUDED THROUGH RING
PLUS
AQUA LIMITED (RPAL), A SUBSIDIARY OF JK FILES AND ENGINEERING
LTD (JK FILES)
    * RAYMOND LTD - WILL CONSOLIDATE JK FILES, RPAL AND MPPL
BUSINESS
AND WILL FORM A NEW SUBSIDIARY

Source text for Eikon:  ID:nBSEjqCK7 
Further company coverage:  RYMD.NS 

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