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Tembo Global Industries Ltd. ( (IN:TEMBO) ) has shared an update.
Tembo Global Industries Ltd. has acquired 2,90,62,305 equity shares, representing a 75.09% stake, in Tembo Classic Engineering Private Limited (formerly Tembo Defense Products Private Limited), a related-party entity focused on defence sector manufacturing and services. The Rs 60.57 crore cash transaction, which involved subscribing to new equity shares and results in a controlling interest of 61.37% acquired in this round, is aimed at exploring new business opportunities in the defence sector and signals Tembo Global’s strategic move to strengthen its presence and growth prospects in a high-potential, defence-oriented market segment.
More about Tembo Global Industries Ltd.
Tembo Global Industries Ltd. operates in the engineering and industrial products space and is expanding into defence-related manufacturing and services through its subsidiary Tembo Classic Engineering Private Limited, which is engaged in manufacturing, repairing, refitting, testing, and dealing in armaments and other defence products and equipment.
Find detailed analytics on TEMBO stock on TipRanks’ Stock Analysis page.