Munjal Auto Industries has acquired 55% paid up share capital in Indutch Composites Technology (Indutch), a Vadodara based Company. The company has acquired 16,48,726 equity shares of Rs 10 each. The valuation has not been disclosed herein due to reasons of confidentiality agreement.
Munjal Auto Industries is leading auto component manufacturing company in India producing Exhaust systems complete for two wheelers and four wheelers, Spoke rims for two wheelers, Steel Wheel Rims for Two Wheelers and Four Wheelers, Fuel Tanks for Four wheelers, Seat Frames for four wheelers and other automotive assemblies.
