Indo National Limited has made a regulatory disclosure pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, and the SEBI master circular dated November 11, 2024 (reference no. SEBI/HO/CFD/PoD2/CIR/P/0155).
The company has invested an aggregate amount of ₹25,01,968 (Rupees Twenty-Five Lakh One Thousand Nine Hundred and Sixty-Eight Only) through subscription to equity shares of Medcuore Medical Solutions Private Ltd (MMSPL). This investment represents an additional 0.39% of the paid-up share capital in MMSPL on a fully diluted basis.
Investment Details
- Number of shares acquired: 178 equity shares
- Price per share: ₹14,056 (Rupees Fourteen Thousand and Fifty-Six)
- Valuation basis: Based on valuation report issued by registered valuer dated August 21, 2026
- Consideration type: Cash consideration
- Post-investment holding: Company's aggregate shareholding in MMSPL now stands at 63.46%
Target Entity Information
- Name: Medcuore Medical Solutions Private Ltd
- Business: Manufacturing, distribution and providing services in relation to Air Monitoring System and Air Purifiers
- Date of Incorporation: June 7, 2020
- Geographic presence: India
- Turnover history:
- FY 2023-24: ₹47,68,000
- FY 2024-25: ₹35,41,484
- FY 2025-26: ₹1,45,60,000
Transaction Characteristics
- Related party status: The acquisition does not fall under related party transaction
- Promoter interest: None of the promoter/promoter group/group companies have any interest in MMSPL
- Regulatory approvals: No governmental or regulatory approvals required
- Transaction basis: Executed at arm's length
Purpose and Timeline
- Object and impact: To facilitate business growth and to generate revenue and earn profit due to expansion of business
- Completion timeline: Up to FY 2027-28
The disclosure was signed by J. Srinivasan, Company Secretary of Indo National Limited, and submitted to both National Stock Exchange of India Limited (NSE Symbol: NIPPOBATRY) and BSE Limited (Scrip code: 504058).