GOCL Corporation Ltd Completes Sale of Subsidiary IDL Explosives Ltd to Apollo Defence Industries

GOCL Corporation Ltd has announced the completion of the sale of its subsidiary, IDL Explosives Ltd, to Apollo Defence Industries. This divestment process concludes the Hinduja Group's strategic exit from the explosives and detonators business portfolio. IDL Explosives Ltd has manufacturing facilities in Rourkela and other locations. Apollo Defence intends to expand and strengthen the business in line with its strategic plans in the rapidly growing Defence Sector. GOCL, listed on the Indian stock exchanges, plans to evolve into an energy company in line with its long-term growth aspirations.