Minda Industries has acquired 4,48,162 equity shares i.e. 5.24% stake in FRIWO AG, Germany, by investing Euro 14.99 million. The investment has been made in the aforesaid company, after obtaining the requisite approvals including Reserve Bank of India (RBI) under Overseas Direct Investment (ODI) guidelines. The object of acquisition is to strengthen the partnership with FRIWO AG via primary equity infusion.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.
