Mumbai, April 16 -- According to an exchange filing, the board of directors, in its meeting held on 16 April 2025, approved the investment, which will be made over a period of three financial years, including the current one. The investment will be carried out through the subscription of equity shares, representing 70.70% of MMSPL's paid-up share capital on a fully diluted basis, subject to the fulfillment of specified conditions precedent and the execution of definitive transaction documents (Proposed Transaction).

MMSPL is engaged in the manufacturing, distribution, and servicing of air monitoring systems and air purifiers. The primary objective of the agreement is financial investment, with Indo National planning to invest Rs 17 crore...