Avantel Limited has informed the Exchange regarding 'Inauguration of New Facility of Imeds Global Private Limited, a Wholly Owned Subsidiary of Avantel Limited '.
AVANTEL · price
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Avantel Limited's wholly owned subsidiary, iMeds Global Private Limited, has set up a new facility at the Andhra Pradesh MedTech Zone (AMTZ) in Visakhapatnam for designing, developing, and manufacturing medical products. The facility spans 2 acres with about 25,000 sq. ft. of built-up area and includes clean rooms, assembly, and testing infrastructure. It is scheduled to become operational from June 15, 2025. This marks Avantel's diversification into the healthcare technology space, with a focus on affordable, indigenously developed medical equipment under the Make in India initiative. iMeds is a wholly owned subsidiary, so its operations and financials will be consolidated into Avantel's results.
This is a strategic diversification move into medtech for Avantel, opening a new revenue stream beyond its core defense/aerospace business. The new facility could support long-term growth, but near-term financial impact will depend on how quickly the subsidiary scales up operations and wins customers in a competitive medical devices market.