Joint Venture8 Oct 2025, 01:15 pm
Kranti Industries Ltd. Approves Joint Venture with KORES Group for Machining of Critical Casting Components
AI Summary
Kranti Industries Ltd. has granted approval and authority to subscribe the shares of a new Joint Venture Company, 'KRAKO PRECISION PRIVATE LIMITED', to be incorporated pursuant to the execution of a Memorandum of Understanding with KORES Group. The Joint Venture Company will be engaged in the business of 'Machining of Critical Casting Components'. Kranti Industries Limited will hold 35% of the shareholding in the Proposed JV Company, while the remaining 65% will be held by the Kores Group. The Joint Venture Company will become an Associate Company of Kranti Industries Limited upon incorporation. The Board Meeting was held on Wednesday, October 08, 2025, from 11:00 A.M. to 01:00 P.M. (IST).
Key Highlights
- Kranti Industries Ltd. has approved a Joint Venture with KORES Group for 'Machining of Critical Casting Components'
- The new Joint Venture Company will be named 'KRAKO PRECISION PRIVATE LIMITED' or such other name as may be mutually decided by the parties
- Kranti Industries Ltd. will hold 35% of the shareholding in the Proposed JV Company, while the Kores Group will hold the remaining 65%
- Upon incorporation, the Proposed JV Company will become an Associate Company of Kranti Industries Limited
- The Board Meeting was held on Wednesday, October 08, 2025, from 11:00 A.M. to 01:00 P.M. (IST)