Minda Industries invests in S. M. 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 investment in S. M. Auto Industries, Partnership Firm.

S.M. Auto Industries, is a partnership firm, between Ms. Paridhi Minda (holds 37.50%), Ms. Suman Minda (holds 50.00%) and Mr. Sanjeev Garg (holds 12.50%). It is engaged in Manufacturing of automotive bulbs and Lever / yoke.

The Board approved the investment upto Rs. 3.21 Crores in S.M. Auto Industries for acquisition of 37.50% stake from Ms. Paridhi Minda and 50.00% stake from Ms. 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 March 31 2022.

Shares of Minda Industries Limited was last trading in BSE at Rs. 1113.90 as compared to the previous close of Rs. 1060.95. The total number of shares traded during the day was 64659 in over 5621 trades.

The stock hit an intraday high of Rs. 1144.80 and intraday low of 1045.55. The net turnover during the day was Rs. 70532168.00.

Source : Equity Bulls

Keywords

MindaIndustries INE405E01023 MINDAIND Investment SMAutoIndustries