| <p>Indo National Limited announced that its board of directors approved an investment of Rs 3,90,94,666 in Axial Aero Private Limited by way of subscription to 35,249 Class C Compulsorily Convertible Preference Shares, which will represent 7.97% of Axial Aero Private Limited’s share capital on a fully diluted basis, subject to certain conditions. The investment is part of a pre-Series A -1 round, with shares issued at a price of Rs 1,109.10 per share, and will allow Indo National Limited to nominate one member to the board of directors of Axial Aero Private Limited.</p> |