Indo-National Limited has informed the Exchange about Acquisition
NIPPOBATRY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Indo-National Limited (NIPPOBATRY) has invested Rs. 99,87,744 (approximately Rs. 1 crore) to acquire an additional 1.68% equity stake in Medcuore Medical Solutions Private Ltd (MMSPL) through a cash transaction. The shares were priced at Rs. 16,536 per share (604 shares), based on a registered valuer's valuation report. Following this acquisition, Indo-National's aggregate shareholding in MMSPL has increased to 59.16%, making it a majority stakeholder. MMSPL, incorporated on June 7, 2020, operates in the air monitoring system and air purifier manufacturing and distribution space, with FY26 turnover of Rs. 1.45 crore — a significant jump from Rs. 35.4 lakh in FY25. The company stated the acquisition is aimed at facilitating business growth and generating revenue and profit through business expansion.
With Indo-National now holding a majority 59.16% stake in MMSPL, the subsidiary's financials are likely to get consolidated into the parent's accounts going forward. The sharp revenue growth trajectory of MMSPL could be positive for Indo-National's topline, though the investment is relatively small at ~Rs. 1 crore.