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NELCO Limited invests USD 20 million in Elveo Mobile for satellite communications partnership
17-Aug-2026, 04:46
NELCO Limited announced an investment of USD 20 million in Compulsorily Convertible Debentures (CCDs) of Lunar Holdco, Inc., doing business as Elveo Mobile, a Delaware, USA-incorporated satellite communications company, on August 17, 2026. The investment, made pursuant to approvals from NELCO’s board of directors and shareholders, is intended to establish a long-term partnership for the provision, distribution, and commercialization of satellite-based Direct-to-Device (D2D), IoT, and related communication services, and will be subject to applicable regulatory approvals for operations in India.
NELCO Limited announced an investment of USD 20 million in Compulsorily Convertible Debentures (CCDs) of Lunar Holdco, Inc., doing business as Elveo Mobile, a Delaware, USA-incorporated satellite communications company, on August 17, 2026. The investment, made pursuant to approvals from NELCO’s board of directors and shareholders, is intended to establish a long-term partnership for the provision, distribution, and commercialization of satellite-based Direct-to-Device (D2D), IoT, and related communication services, and will be subject to applicable regulatory approvals for operations in India.