Nelco invests $20 million in Lunar Holdco to expand satellite connectivity services

Nelco Ltd invested $20 million in Lunar Holdco through Compulsorily Convertible Debentures (CCDs) with a 7% annual return.

The investment is strategic, establishing a long-term partnership for satellite-based services in India and other countries.

Lunar Holdco is a US-based satellite communications company developing a next-generation global NGSO satellite network.

The investment does not confer control over Lunar and is subject to regulatory filings and compliances.