Minda Industries acquires stake in Samaira Engineering, 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 Samaira Engineering, Partnership Firm.

Samaira Engineering, is a partnership firm, between Ms. Paridhi Minda (holds 43.75%), Ms. Pallak Minda (holds 43.75%) and Mr. Sanjeev Garg (holds 12.50%). It is engaged in Manufacturing of auto electrical parts & accessories.

The Board approved the investment upto Rs. 8.88 Crores in Samaira Engineering for acquisition of 43.75% stake from Ms. Paridhi Minda and 43.75% stake from Ms. Pallak Minda. Post this acquisition, MIL will hold 87.50% stake in Samaira Engineering.

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 StakeAcquisition SamairaEngineering