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Uno Minda gets nod to incorporate wholly owned step-down subsidiary in Dubai

25 Aug 2022 Evaluate

Uno Minda’s board has approved the incorporation of a wholly owned step-down subsidiary (WOS) of the Company in Dubai, United Arab Emirates (UAE) for Trading, Import, Export & Re-Export of Uno Minda products for customers in African & Middle East markets.

The WOS to be incorporated in UAE will have its office in Mainland Dubai, Deira with an initial equity investment of up to Rs 50 lakh. The WOS will be a 100% subsidiary of SAM Global, which is a wholly owned subsidiary of the Company situated in Singapore.

Uno Minda (formerly known as Minda Industries) offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.

Peers
Company Name CMP
SamvardhanaMotherson 160.00
Tube Investments 2200.00
Bosch 45452.80
UNO Minda 1110.20
Bombay Burmah Trdg. 1247.40
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