Ring Plus Aqua: Raymond picks stake in MPPL, forays into aerospace, defence and EV components biz

The Raymond Group is venturing into the sunrise sectors of aerospace, defence, and electric vehicles (EV) components by acquiring a 59.25% stake in Maini Precision Products Limited (MPPL) for Rs 682 crore. The acquisition aims to bolster Raymond's engineering business. The deal will be concluded through Ring Plus Aqua Limited, an arm of JK Files and Engineering Limited, forming a new subsidiary.