Minda Industries Ltd acquires 5.24% stake in FRIWO AG

Minda Industries Ltd. has acquired 4,48,162 equity shares i.e. 5.24% stake in FRIWO AG, Germany, by investing Euro 14.99 million. The investment has been made in the aforesaid company, after obtaining the requisite approvals including Reserve Bank of India ("RBI") under Overseas Direct Investment ("ODI") guidelines.

FRIWO AG is engaged in the business of designing, development, manufacturing, power supply, chargers, motor control units and other products for various sectors and geographies.

Shares of Minda Industries Limited was last trading in BSE at Rs. 943.25 as compared to the previous close of Rs. 927.85. The total number of shares traded during the day was 16089 in over 1721 trades.

The stock hit an intraday high of Rs. 954.45 and intraday low of 918.95. The net turnover during the day was Rs. 15146175.00.

Source : Equity Bulls

Keywords

MindaIndustries INE405E01023 StakeAcquisition FRIWOAG Germany