The boards of Raymond s various subsidiaries have approved a demerger of its engineering business to allow it to expand into sunrise sectors like aerospace, defense, and electric vehicle components. The merger will consolidate Raymond s engineering and MPPL businesses, aiming for profitable growth and segregation.
Raymond Engineering Demerger: Companies involved in formation of the scheme include JK Files & Engineering (JKFEL), JKFEL Tools And Technologies Limited (JKTTL), Ring Plus Aqua Limited (RPAL), Maini Precision Products Limited (MPPL), Ray Global Consumer Enterprise Limited (RGCEL) and other subsidiaries.
The company said this acquisition will 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.
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