Daido India Pvt. Ltd announced that it it has received funding from Daido Kogyo Co., Ltd.
May 31, 2013 at 12:00 am EDT
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Daido India Pvt. Ltd announced that it will raise INR 250 million in a round of funding from existing investor, Daido Kogyo Co., Ltd. on May 10, 2013. The investor will increase the capital of the company from INR 300 million to INR 550 million. The investor will increse its stake in the company from 96.7% to 98.2%. The transaction will happen in two stages, in May 2013 and September 2013. The board of directors of the investor approved the transaction.
In May 2013, Daido India Pvt. Ltd closed the transaction. The company first close of the transaction.
DAIDO KOGYO CO., LTD. is a machinery manufacturing company. Along with its subsidiaries and associated companies, the Company is engaged in the manufacture and sale of power transmission and transportation-related products, such as chains and conveyers; rim and wheel-related products, such as rims, wheels, spokes and bolts; the Other products, such as welfare equipment and office machinery in Japan, China, Indonesia, Thailand, Vietnam, India, the United States, Brazil and Italy. Through its subsidiaries, the Company is also engaged in the processing and sale of steels, the purchase of related materials, the sale of chains, the provision of welfare services, as well as the repair and maintenance of facilities, among others.
DAIDO KOGYO CO., LTD. 