Indo National Limited has announced that its Board of Directors, during their meeting held on September 17, 2026, approved the execution of a Share Subscription Agreement and a Shareholders’ Agreement to make a primary investment of INR 3.90 Crores in Axial Aero Private Limited. This strategic move involves subscribing to 35,249 Class C Compulsorily Convertible Preference Shares as part of a Pre-Series A-1 investment round.

The investment will see Indo National Limited further solidify its stake in Axial Aero Private Limited, bringing its total shareholding to 7.97% on a fully diluted basis. Axial Aero Private Limited specializes in the creation of advanced flight simulation technologies and digital terrain applications across both commercial and military sectors. As part of this agreement, Indo National will continue to retain its right to nominate a member to Axial Aero’s board of directors, aligning with its strategy to diversify its technological reach.

Established in 1972 and headquartered in Chennai, Indo National Limited is widely recognized for its iconic flagship consumer brand, Nippo, historically famous for dry-cell batteries. Over recent years, the company has successfully evolved into a diversified consumer electrical and home care business. Its expanding portfolio now spans flashlights, LED lighting, electrical accessories, mosquito swatters, and energy-efficient home appliances such as BLDC fans and air purifiers. During 2025, the company actively pursued strategic growth avenues, including investing in emerging domains and scaling its omni-channel and digital footprint, which has significantly grown to contribute meaningfully to overall business revenues.

For the financial quarter ending June 30, 2025, Indo National Limited recorded a total income of INR 121.64 Crores, compared to INR 302.80 Crores in the corresponding quarter of the previous year. The profit after tax for the quarter stood at INR 1.02 Crores. The company’s ongoing expansion initiatives are supported by structured cost efficiencies, enhanced manufacturing productivity, and targeted diversification into new age technological collaborations and modern consumer segments.