Minda Industries acquires stake in YA Auto Industries, Partnership Firm

The Board of Directors of Minda Industries Ltd at its meeting held today i.e. Monday, February 7, 2022, approved the acquisition of stake in YA Auto Industries, Partnership Firm.

YA Auto Industries, is a partnership firm, between Minda Industries Limited (MIL) (holds 51%), Ms. Suman Minda (holds 36.50%) and Mr. Sanjeev Garg (holds 12.50%). It is engaged in manufacturing of Auto electrical parts.

The Board approved the further investment upto Rs. 1.79 Crores in YA Auto Industries for acquisition of 36.50% stake from Ms. Suman Minda. Post this acquisition, MIL stake in YA Auto Industries, will be increased from 51% to 87.50%.

The transaction is expected to be completed on or before March 31 2022.

Shares of Minda Industries Limited was last trading in BSE at Rs. 1060.95 as compared to the previous close of Rs. 1080.40. The total number of shares traded during the day was 8487 in over 896 trades.

The stock hit an intraday high of Rs. 1082.20 and intraday low of 1052.00. The net turnover during the day was Rs. 9004754.00.

Source : Equity Bulls

Keywords

MindaIndustries INE405E01023 MINDAIND YAAutoIndustries StakeAcquisition