Nippo’s manufacturer divests its entire 51% stake in Kineco for Rs 220 crores

Indo National Ltd, the Chennai-based manufacturer of Nippo brand products, has sold its 51% stake in Kineco Ltd for Rs 220 crores. The funds will be used to invest in aerospace and defence industries, as well as FMCG sectors. This move aligns with the company's strategic focus on creating more value for consumers and shareholders.