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- by bloombergquint.com
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Indo National Sells 51% Stake In Kineco For Rs 220 Crore, Shifts Focus To Aerospace And FMCG
Indo National Ltd, the manufacturer of consumer electrical products and dry cell batteries under brand Nippo, on Tuesday, announced to divest its entire 51% stake in Kineco Ltd., a composites manufacturer, for Rs 220 crore. The Chennai-based manufacturer plans to deploy the funds in new-age enterprises, aerospace and defence industries, as well as across diverse categories of the fast-moving consumer goods sector, according to a statement.