Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Minda Corporation has informed that pursuant to the approval granted by the Board of Directors of the Company at its meeting held on Monday, June 07, 2021(Board Meeting started at 5 pm and concluded at 6:05 pm), the Company has entered into and signed a Joint Venture Agreement with Infac Elecs co, Republic of Koreaon Tuesday, June 08, 2021 for manufacturing of Antenna for automotive vehicles. The proposed JV shall be operational through incorporation of a new joint venture entity which shall engage in design, develop, manufacture, install, assemble, produce, conceptualize, test, service, distribute, market, promote, offer and sell (either by wholesale or retail) the Shark Fin Antenna -Micro Pole Antenna, LF Antenna & Switch Assembly, GPS Antenna, Advance Antenna (Products) in the Territory, which shall be mutually decided by the parties from time to time. The ratio of shareholding of the Company in the proposed JV company shall be held 51% by Minda Corporation and 49% shall be held by Infac Elecs co., Republic of Korea. The details, as required, to be disclosed under the aforesaid Regulation 30 read with Clause 7 of Para A of Annexure-I of SEBI Circular No. CIR/CFD/CMD/4/2015 dated 09 September, 2015 is enclosed as Annexure-1 to this letter. A copy of the press release for the above matter is also attached herewith at Annexure-II.
The above information is a part of company’s filings submitted to BSE.
