Indo National buys 31.82% of defence-tech firm Aidin for ₹34.99 crore

What's the deal? Indo National LimitedDealroom has a profile for this one. Try Dealroom → has acquired a 31.82% stake in Aidin Technologies Private LimitedDealroom has a profile for this one. Try Dealroom → for ₹34.99 crore, marking its move into defence and aerospace electronics. The transaction, completed on July 29, 2026, covered fully paid-up Series A and partly paid-up Series A1 Compulsorily Convertible Preference Shares.

What does Aidin do? Founded in 2008, the company works in radio frequency power electronics and embedded systems for the defence sector. Its portfolio spans anti-drone solutions, electronic warfare test and range systems, radar power supply units, and jammers.

The numbers: Aidin's turnover reached ₹743 million in FY25, up sharply from ₹158 million in FY23. That growth underpins Indo National's bet on rising demand in defence electronics.

What's the endgame? Management said the deal aligns with a strategy to "balance risk and returns" by entering what it calls a sunrise sector. The company is targeting electronic warfare, defence communications, and satellite technology as a new growth engine. Indo National pegs the defence electronics market at roughly ₹25,000 crore, growing at a compound annual rate of 12-14%. The second tranche of the acquisition is due on or before July 28, 2027.

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Image credit: Generated with Gemini