BENGALURU: Raymond group has acquired a 59.2% stake in Maini Precision Merchandise for Rs 682 crore via a mixture of debt and inside accruals. The transaction might be topic to regulatory approvals and is predicted to be accomplished through the present fiscal.
This acquisition is a strategic transfer to strengthen Raymond’s current engineering enterprise.The consolidated enterprise will cater to the highest international authentic tools producers and tier-1 producers throughout aerospace, defence, auto and industrial companies.
The acquisition might be concluded via Ring Plus Aqua (RPAL), a subsidiary of JK Recordsdata and Engineering. After the acquisition, Raymond will consolidate JK Recordsdata, RPAL and Maini Precision Merchandise companies and can type a brand new subsidiary Raymond will maintain 66.3% within the new firm that can concentrate on precision engineering merchandise. Gautam Maini, the founding father of Maini Precision Merchandise, will lead the consolidated engineering enterprise.
This acquisition is a strategic transfer to strengthen Raymond’s current engineering enterprise.The consolidated enterprise will cater to the highest international authentic tools producers and tier-1 producers throughout aerospace, defence, auto and industrial companies.
The acquisition might be concluded via Ring Plus Aqua (RPAL), a subsidiary of JK Recordsdata and Engineering. After the acquisition, Raymond will consolidate JK Recordsdata, RPAL and Maini Precision Merchandise companies and can type a brand new subsidiary Raymond will maintain 66.3% within the new firm that can concentrate on precision engineering merchandise. Gautam Maini, the founding father of Maini Precision Merchandise, will lead the consolidated engineering enterprise.
