Minda Industries has received approval to make first tranche Investment in equity shares of CSE Dakshina Solar, the Special Purpose Vehicle (the SPV) Company. Board approved the acquisition of 33,750 equity shares of CSE Dakshina Solar of the face value of Rs 10 each at a premium of Rs 70 i.e. Rs 80 per share, aggregating to Rs 27,00,000. With the aforesaid acquisition of shares, the company holds 27.55% of total paid-up share capital of the SPV. The aforesaid acquisition of the shares is for availing solar power for its plant at Chennai in Tamil Nadu.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.
