Kranti Industries Ltd. to Incorporate Joint Venture with Kores Group for Machining of Critical Casting Components

Kranti Industries Ltd. has executed a Memorandum of Understanding (MOU) with Kores Group to incorporate a new company in the form of a Joint Venture (JVCo.) in Halol, Gujarat. The proposed JVCo. will carry on the business of Machining of Critical Casting Components. Kranti Industries will hold 35% in the proposed JVCo. The new entity will have a Manufacturing Facility at Halol, Gujarat. The proposed shareholding of New Entity shall be as follows: Kranti Industries Limited - 35%, Kores Group - 65%.