The Board of Directors of Indo-National Limited, at its meeting held on Thursday, approved the proposed acquisition of 51 per cent of the paid-up share capital of Aidin Technologies Private Limited, by way of subscription to compulsorily convertible preference shares for a total consideration of around ₹78 crore.
This will be undertaken across two tranches in accordance with the terms of the agreements between the parties. Tranche 1 is expected to be completed on or before June 2026, and Tranche 2 is expected to be completed within 12 months from the date of completion of Tranche 1.
Aidin Technologies was incorporated in 2008 and is engaged in the business of radio frequency power electronics technologies. It leverages its domain expertise to serve critical sectors including electronic warfare, defence communications and satellite technology. Aidin provides a range of systems and subsystems, including anti-drone solutions, electronic warfare test and range systems, power supply and distribution units for radar and defence equipment, and jammers and amplifiers.
The company’s turnover in FY25 was around ₹74 crore.
As for INL, the company said it wishes to have another growth engine besides its B2C consumer electronics play by having a presence in sunrise sector like Defence & Aerospace space (B2B& B2G).
“Defence electronics is a huge opportunity which supports country’s self-sufficiency plans through indigenisation of technology and reducing the import dependency. Since size of the Defence Electronics market is ~ 25000 Cr growing 12-14 per cent CAGR, this investment helps Indo National to have a strong growth of both revenue and profitability,” it said in a filing to the exchanges.