Indag Rubber has received approval for further strategic investment in its subsidiary company - Millenium Manufacturing Systems, by way of acquisition and/or subscription to equity and/or preference shares equivalent to 51% of the issued and paid-up share capital of the Millenium Manufacturing Systems, aggregating to an investment of Rs 2.30 crore, to be made on or before March 31, 2027, in one or more tranches.
The object of investment is to carry out the business of manufacturing of power conversion system (PCS) for battery energy storage system (BESS) and power electronics and electronics in the green energy sector. The proposed investment is intended to support the business operations, growth plans, and funding requirements of the Millenium Manufacturing Systems. The Board of Directors of the company, at its meeting held on May 28, 2026, has approved the same.
Indag Rubber offers complete range of application specific tread patterns for transportation industry with cost effective tyre solutions.
