Board of Minda Industries approves acquisition of further stake in Samaira Engineering
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 Samaira Engineering (partnership firm).Samaira Engineering, is a partnership firm, between Paridhi Minda (holds 43.75%), Pallak Minda (holds 43.75%) and Sanjeev Garg (holds 12.50%). It is engaged in Manufacturing of auto electrical parts & accessories.
The Board approved the investment upto Rs. 8.88 crore in Samaira Engineering for acquisition of 43.75% stake from Paridhi Minda and 43.75% stake from PallakMinda. Post this acquisition, MIL will hold 87.50% stake in Samaira Engineering.
The transaction is expected to be completed on or before 31 March 2022.
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First Published: Feb 07 2022 | 1:15 PM IST