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Raymond Group to acquire 59.25% stake in Maini Precision Products

03 Nov 2023 Evaluate

Raymond Group has planned for the acquisition of 59.25% stake in Maini Precision Products (MPPL) for Rs 682 crore funded by a mix of debt and internal accruals.  The transaction will be subject to requisite regulatory approvals and is expected to be completed during the current fiscal. This acquisition is a strategic move to further strengthen Raymond’s existing engineering business with a complementing business that has presence in the sunrise sectors of Aerospace, Electric Vehicles (EV) and Defense. The consolidated business caters to the top Global OEMs and Tier 1 manufacturers across aerospace, defense, auto and industrial businesses.

With this acquisition, Raymond’s engineering business will emerge as a large?scale provider of Engineering, Automotive, EV, Aerospace & Defense components, distinctly positioned to target high?growth precision engineering products with a significant presence across international as well as domestic markets.  The acquisition will be concluded through Ring Plus Aqua (RPAL), a subsidiary of JK Files and Engineering (JK Files). Post the acquisition, Raymond will consolidate JK Files, RPAL and MPPL business and will form a new subsidiary (Newco). Raymond will hold 66.3% in the Newco that will focus on precision engineering products. 

Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world.


Raymond Share Price

420.00 22.70 (5.71%)
15-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Interglobe Aviation 4634.45
SpiceJet 13.47
Raymond 420.00
Global Vectra Helico 189.40
Taneja Aerospace 268.20
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