Raymond Group will acquire 59.25% stake in Maini Precision Products Ltd (MPPL) for Rs. 682 croup from a combination of debt and internal investment.
Funds are earned from the combination of debt and equity, and the group will continue to be cash-strapped when they receive it.
Raymond Group will merge its engineering business of JK Files, RPAL and MPPL under one company by building equity and equity. Gautam Maini, the founder of MPPL to head the integrated engineering company
The transaction will pave the way for value creation in the engineering sector, leading to value creation for Raymond shareholders.
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