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.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU