India's Raymond to buy Maini Precision Products for $82 mln

Raymond

03/11/2023 06:45

BENGALURU, Nov 3 (Reuters) - Indian textiles maker
Raymond  RYMD.NS  on Friday announced a 6.82 billion rupees
($81.91 million) deal to buy majority stake in automotive firm
Maini Precision Products to venture into aerospace, defense and
electric vehicle components business. 
    Raymond will buy a 59.25% stake in Maini Precision Products
and will fund the deal through a mix of debt and internal
accruals, it said in a statement.  

    

($1 = 83.2600 Indian rupees)

 (Reporting by Indranil Sarkar in Bengaluru)
 ((Indranil.Sarkar@thomsonreuters.com; Mobile:  +91
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