BENGALURU (Reuters) – Indian textiles maker Raymond on Friday announced a 6.82 billion rupees ($81.91 million) deal to buy majority stake in automotive firm Maini Precision Products to venture into aerospace, defense and electric vehicle components business.
Raymond will buy a 59.25% stake in Maini Precision Products and will fund the deal through a mix of debt and internal accruals, it said in a statement.
($1 = 83.2600 Indian rupees)
(Reporting by Indranil Sarkar in Bengaluru)
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