As a joint venture (JV) with Apollo Hospitals Enterprises, Indo National (INL) will establish a new subsidiary called “Nippo Green Energy” to enter the renewable energy market.
The incorporation of the new company, in which INL will hold 74 percent of the equity share capital and Apollo Hospitals Enterprises would control the remaining 26 percent, has been accepted by the board of INL.
INL operates a dry-cell battery production facility in Nellore, Andhra Pradesh, where it produces and sells batteries under the “Nippo” brand. In the Telangana village of Polepally, it runs a 4.6 MW solar power plant.
The company’s product offerings include batteries, torches, LED lightings and electrical accessories. Furthermore, INL ,which has served business-to-business (B2B) and business-to-government (B2G) segments through its subsidiaries and step-down JVs, is looking to supply composites to the railway, aerospace and defence industries.
