At meeting held on 07 February 2022
The Board of Minda Industries at its meeting held on 07 February 2022 has approved acquisition of stake in Auto Component (partnership firm).Auto Component, is a partnership firm, between Minda Industries (MIL) (holds 48.90%), Nirmal K. Minda (holds 20.55%), Pallak Minda (holds 25.55%) and Sanjeev Garg (holds 5.00%). It is engaged in manufacturing of Auto lights, i.e. Head /tail lamps.
The Board approved the further investment upto Rs. 3.63 crore in Auto Component for acquisition of 20.55 % stake from Nirmal K. Minda and 25.55% stake from Pallak Minda. Post this acquisitions, MIL stake in Auto Component, will be increased from 48.90% to 95%.
The transaction is expected to be completed on or before 31 March 2022.
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