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Khaitan&Co Advises Indo National Ltd on INR 220 Crore Stake Sale in Kineco to Gajanana Assets

Khaitan&Co advised Indo National Ltd and its subsidiary, Helios Strategic Systems, on the sale of Helios’ majority stake in Kineco Limited to Gajanana Assets and Projects SPV for INR 220 crores

The deal was led by Vivek Sriram, Atul Narayan, Shruthi Srinivasan, and Aanchal Kapoor.

The Firm advised client on all aspects of the transaction, including structuring, negotiation and finalisation of transaction documents, and assistance on closing.

Indo National Limited is a company that manufactures batteries in India. The corporate office is in ChennaiTamil Nadu.The company spans 33 offices through the country. Nippo batteries reach millions of homes through 35 distributors, over 2800 stockists, 900 vans and 500 autos covering over 5 lakh (500,000) retail outlets. Nippo is the second largest dry cell battery manufacturer in India, with 28% of the market in 2006. The company started exporting batteries in 1976, with the first consignment exported to Yemen.

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