Indo National has received approval for the execution of a share subscription agreement and a shareholders' agreement with Medcuore Medical Solutions (MMSPL) and its promoters (Transaction Documents), for the purpose of an investment of Rs 17 crore over a period of three financial years including current financial year by way of subscription to equity shares of MMSPL, which constitutes 70.70% 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).
The board of directors of the company has approved the same in the meeting held on April 16, 2025.
Indo National, formerly Nippo Batteries Co., is an India-based company. The company markets various range of LED torch lights to cater to customer requirements.
