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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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