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 S. M. Auto Industries (partnership firm).SS.M. Auto Industries, is a partnership firm, between Paridhi Minda (holds 37.50%), Suman Minda (holds 50.00%) and Sanjeev Garg (holds 12.50%). It is engaged in Manufacturing of automotive bulbs and Lever/yoke.
SThe Board approved the investment upto Rs. 3.21 crore in S.M. Auto Industries for acquisition of 37.50% stake from Paridhi Minda and 50.00% stake from Suman Minda. Post this acquisition, MIL will hold 87.50% stake in S.M. Auto Industries.
The transaction is expected to be completed on or before 31 March 2022.
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