Indo National Limited Makes Additional Rs. 80 Lakh Investment in Medcuore Medical Solutions, Raises Stake to 57.48%

Indo National Limited has made an additional primary investment of Rs. 80,00,000 (Rupees Eighty lakh only) in Medcuore Medical Solutions Private Ltd (MMSPL) through subscription to equity shares. The disclosure was made under Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was filed on 13 May 2026. This investment follows an earlier intimation dated January 22, 2026, indicating a continued strategic commitment to MMSPL.

Acquisition Details

The transaction involved the acquisition of 871 equity shares at a price of Rs. 9,187 per share, determined on the basis of a valuation report issued by a registered valuer. The consideration was settled entirely in cash. The additional 2.69% stake acquired through this investment has raised Indo National's total shareholding in MMSPL to 57.48% of the paid-up share capital on a fully diluted basis.

Key parameters of the transaction are summarised below:

Parameter: Details Investee Company: Medcuore Medical Solutions Private Ltd Investment Amount: Rs. 80,00,000 Number of Shares Acquired: 871 shares Price Per Share: Rs. 9,187 Additional Stake Acquired: 2.69% Total Shareholding Post-Acquisition: 57.48% Mode of Consideration: Cash Related Party Transaction: No Regulatory Approvals Required: Nil Indicative Completion Timeline: Upto FY 2027-28

About Medcuore Medical Solutions Private Ltd

Medcuore Medical Solutions Private Ltd is engaged in the manufacturing, distribution, and provision of services related to Air Monitoring Systems and Air Purifiers. The company was incorporated on 07 June 2020 and operates in India. The acquisition does not fall under a related party transaction, and none of the promoter, promoter group, or group companies of Indo National have any interest in MMSPL.

MSMPL's turnover over the last three fiscal years is presented below:

Fiscal Year: Turnover FY 25: Rs. 35,41,484 FY 24: Rs. 47,68,000 FY 23: Rs. 83,54,000

Strategic Rationale

Indo National has stated that the object of the acquisition is to facilitate business growth, generate revenue, and earn profit through the expansion of business. No governmental or regulatory approvals are required for this acquisition. The indicative time period for the completion of the overall acquisition process extends up to FY 2027-28.

Indo National Limited has informed the stock exchanges of a forthcoming Board of Directors meeting, scheduled for Friday, May 15, 2026, in accordance with Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was filed by the company on May 4, 2026, and signed by J. Srinivasan, Company Secretary.

Board Meeting Agenda

The upcoming Board meeting has been convened to consider and approve key financial disclosures. The following matters are on the agenda:

Parameter: Details Meeting Date: Friday, May 15, 2026 Financial Results: Audited (Standalone & Consolidated) Period Under Review: Quarter and Year ended March 31, 2026 Additional Agenda: Recommendation of Dividend, if any

The company has also confirmed that the approved Audited Financial Results will be published in newspapers as soon as they are approved and taken on record by the Board at the said meeting.

Trading Window Closure

In line with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's Internal Code of Conduct on Prohibition of Insider Trading, the trading window for dealing in the securities of the company has been kept closed. As notified by the company vide its letter dated March 25, 2026, the trading window closure applies to the following categories:

Promoters

Directors

Other connected persons

Designated employees of the company

The trading window will remain closed from Wednesday, April 1, 2026, until 48 hours after the declaration of the audited fourth quarter and full-year results of the company.

Regulatory Compliance

The intimation has been filed simultaneously with BSE Limited and the National Stock Exchange of India Ltd., fulfilling the company's disclosure obligations under the applicable SEBI regulations. The company has requested both exchanges to take the information on record.

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