City-based Indo National Ltd. (INL) is foraying into renewable energy sector by tying up with Apollo Hospitals Enterprises Ltd.
On Thursday, INL board met and approved a proposal to incorporate a new subsidiary company ‘Nippo Green Energy Pvt. Ltd.’ in which it will hold 74% stake and balance by Apollo Hospitals, it said in a regulatory filing.
INL also unveiled a new Nippo Brand logo. The new revamped logo represents INL’s new brand identity in its 50th year.
INL was incorporated in 1972 as a joint venture between the late P. Obul Reddy and Panasonic Corporation, which subsequently exited the JV in 2012. It has a dry-cell battery manufacturing facility located in Tada and a 4.6 megawatt solar power plant in Telangana.
