Indo National Limited to invest in Medcuore Medical Solutions Pvt Ltd

The Board of Directors of Indo National Limited has, at its meeting held on 16th April 2025, approved the execution of: (i) a Share Subscription Agreement; and (ii) a Shareholders' Agreement, with Medcuore medical solutions private ltd ("MMSPL") and its promoters ("Transaction Documents"), for the purpose of an investment of INR 17,00,00,000 (Indian Rupees Seventeen Crores only) over a period of three financial years including current financial year by way of subscription to Equity Shares of MMSPL, which constitutes 70.70% (seventy point seven per cent)] of the paid-up share capital of ("MMSPL") on a fully diluted basis, subject to the fulfilment of certain identified conditions precedent and closing of the transaction documents ("Proposed Transaction").

MMSPL is engaged in the business of manufacturing, distribution and providing services in relation to Air Monitoring System and Air Purifiers.

Source : Equity Bulls

Keywords

IndoNational Acquisition MedcuoreMedicalSolutions