Minda Corporation raises Rs 310 cr via QIP
Auto component maker Minda Corporation today said it has raised Rs 310 crore from qualified institutional placement (QIP) of shares.
International and domestic institutional investors participated in the issue, Minda Corporation said in a statement.
"This helps us prepare for aggressively pursuing future growth and also expanding our shareholder base," Minda Corporation Chairman and Group CEO Ashok Minda said.
Minda Corporation has a diversified product portfolio that encompasses safety, security and restraint systems; driver information and telematics systems and interior systems for auto OEMs.
The company has 34 manufacturing facilities across India, South-East Asia, Europe and North America.
Shares of the company today ended 3.69 per cent up at Rs 181.45 apiece on the BSE.
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First Published: May 24 2018 | 4:00 PM IST