Minda Industries' stake in JV Minda TG Rubber reduces to 49.90%

Minda Industries announced that the Board of Minda TG Rubber has issued 11,11,506 new equity shares to the joint venture partner Toyoda Gosei Co., Japan. Accordingly, Minda TG Rubber will no longer continue as subsidiary of the company.

Minda TG Rubber will be an associate of the Company with revised shareholding as follows:

Minda Industries - 49.90%
Toyoda Gosei Co., Japan - 50.10%

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