Raymond Limited (NSEI:RAYMOND) agreed to acquire 59.25% stake in Maini Precision Products Limited for INR 6.82 billion on November 3, 2023. The acquisition will be concluded through Ring Plus Aqua Ltd (RPAL), a subsidiary of JK Files and Engineering Ltd (JK Files). Post the acquisition, the company will consolidate JK Files, RPAL and MPPL business and will form a new subsidiary, Newco.

Raymond Ltd will hold 66.3 per cent in Newco. Trilegal advised MPPL and MPP Group Members on the legal and tax aspects. IndusLaw advised Minority Investors on the legal aspects.

EY advised MPPL and MPP Group Members on the legal and tax aspects. KPMG, Dhruva Advisors LLP, and Alvarez and Marsal advised RPAL on the tax and financial aspects respectively.