# Raymond acquires 59.25% stake in Maini Precision Products for ₹682 crore

Raymond Group acquired a 59.25% stake in Maini Precision Products Ltd for ₹682 crore, entering the aerospace, EV and defence components business.

- Type: Acquisition
- Announced: 2023-11-03
- Where: India
- Value: $82.0M (6.82B INR)
- Status: completed
- Products: aerospace components, EV components, defence components
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Aerospace Components](https://endata.com/sectors/aerospace-components.md)

## Companies

- [Raymond Corporation](https://endata.com/companies/1560.md) (acquirer)
- [Ring Plus Aqua](https://endata.com/companies/5102.md) (acquirer)
- [Maini Precision Products](https://endata.com/companies/16756.md) (target)
- [JK Files and Engineering](https://endata.com/companies/73490.md) (partner)

## Sources

- [fortuneindia.com](https://www.fortuneindia.com/enterprise/raymond-enters-aerospace-biz-with-maini-precision-acquisition-for-682-cr/114668), 2023-11-03: "The acquisition is a 'strategic move' that’ll strengthen Raymond’s existing engineering business and will help it foray into aerospace, EV and defence"
- [marketscreener.com](https://www.marketscreener.com/quote/stock/RAYMOND-LIMITED-9058972/news/India-s-Raymond-to-buy-Maini-Precision-Products-for-82-million-45232644/), 2023-11-03: "Raymond will buy a 59.25% stake in Maini Precision Products and will fund the deal through a mix of debt and internal accruals."
- [cnbctv18.com](https://www.cnbctv18.com/business/companies/raymond-group-to-acquire-stake-in-maini-precision-mppl-for-rs-682-crore-engineering-business-18233081.htm), 2023-11-03: "Raymond will foray into sunrise sectors of Aerospace, Defence and Electric Vehicles (EV) components business."
- [business-standard.com](https://www.business-standard.com/companies/news/raymond-group-to-acquire-59-25-stake-in-maini-precision-for-rs-682-cr-123110300413_1.html), 2023-11-03: "This acquisition will catapult the growth of our engineering business and will open new vistas to us for our foray into rapidly growing segments like aerospace, defence, and EV."
- [business-standard.com](https://www.business-standard.com/companies/news/raymond-acquires-majority-stake-in-maini-precision-products-for-rs-682-cr-123110301112_1.html), 2023-11-03: "This acquisition is a strategic move to further strengthen Raymond's existing engineering business with a complementing business that has presence in sectors like aerospace, electric vehicles (EV) and defense."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.