Minda Industries’ investment committee of its board has given green signal for the second tranche of stake purchase in Strongsun Renewables, special purpose vehicle (SPV) company. The committee approved the acquisition of 3,07,850 equity shares of the face value of Rs 10 each at a premium of Rs 70 that is Rs 80 per share of Strongsun Renewables, aggregating to Rs 2.46 crore.
With the aforesaid acquisition of shares, the company holds 28.10 per cent stake of total paid-up share capital of the SPV.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.
