Indo-National Limited has informed the Exchange regarding Outcome of Board Meeting held on April 30, 2026.
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Indo-National Limited's board has approved acquiring 51% of Aidin Technologies Private Limited through subscription to compulsorily convertible preference shares in two tranches. Tranche 1 (~31.82% stake) for Rs. 35 crore is expected by June 2026, followed by Tranche 2 to reach 51% for an additional Rs. 43 crore within 12 months. Aidin Technologies, incorporated in 2008, operates in defence electronics including electronic warfare, anti-drone solutions, and satellite technology. The target's turnover grew from Rs. 158 million (FY23) to Rs. 743 million (FY25), showing strong growth trajectory. Indo-National, known for consumer products like Nippo batteries, is diversifying into the defence and aerospace sector which has a market size of ~Rs. 25,000 crore growing at 12-14% CAGR. The transaction is not a related party deal.
Positive for shareholders as Indo-National gains a new growth engine in the high-margin defence electronics sector while maintaining its consumer business. The blended B2C and B2B/B2G portfolio should help balance risk and returns. Deal size of ~Rs. 78 crore is significant relative to the company's scale.