Tembo Global Industries has acquired a substantial 75.09% stake in Tembo Classic Engineering Private Limited for Rs. 60.57 Cr.

This strategic move propels Tembo Global into the promising defense sector, as Tembo Classic specializes in manufacturing, repairing, and trading armaments and defense equipment.

This acquisition signifies Tembo Global's intent to diversify its business and tap into new growth avenues within the defence industry, potentially expanding its market reach and long-term revenue streams.

It's a clear step towards portfolio enhancement.