India's Raymond to buy Maini Precision Products for $82 mln

BENGALURU, Nov 3 (Reuters) - Indian textiles maker Raymond (RYMD.NS) on Friday announced a 6.82 billion rupees ($81.91 million) deal to buy majority stake in automotive firm Maini Precision Products to venture into aerospace, defense and electric vehicle components business.

Raymond will buy a 59.25% stake in Maini Precision Products and will fund the deal through a mix of debt and internal accruals, it said in a statement.

($1 = 83.2600 Indian rupees)