RattanIndia Enterprises acquires 60% stake in drone company Throttle Aerospace Systems
Diversified firm RattanIndia Enterprises on Thursday said it has acquired 60 per cent stake in drone company Throttle Aerospace Systems Pvt Ltd (TAS). The investment in TAS has been done through NeoSky India Ltd (NeoSky), a wholly-owned subsidiary, RattanIndia Enterprises said in a statement.
However, the company did not disclose the financial details of the transaction.
Founded in 2016, led by Nagendran Kandasamy, an ex-Boeing, aeronautical industry veteran, TAS has been approved by Directorate General Civil Aviation (DGCA) and Ministry of Defence (MoD) to manufacture civil and military grade drones, it added.
