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Minda Industries to raise Rs 500 crore via QIP

25 Mar 2017 Evaluate

Minda Industries has received approval from its fund-raising committee for qualified institutional placement (QIP) of shares worth Rs 500 crore. The committee has fixed the floor price of the issue at RS 436.66 a share and may offer a discount of 5 per cent to institutional buyers.

Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.

Peers
Company Name CMP
SamvardhanaMotherson 165.60
Tube Investments 2519.15
Bosch 48100.00
UNO Minda 1218.00
Bombay Burmah Trdg. 1435.30
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