Indo National Invests ₹3.9 Cr in Axial Aero

Indo National Limited (INL) announced its Board of Directors has approved a further investment of INR 3.90 Crores in Axial Aero Private Limited (AAPL). This investment will be made through the subscription of Class C Compulsorily Convertible Preference Shares. Upon completion, INL's total shareholding in AAPL will represent 7.97% on a fully diluted basis. The transaction is subject to certain conditions precedent and the completion of investments by other investors in the same funding round. AAPL is involved in the development of flight simulation and digital terrain technologies.