Uno Minda has received approval to make further investment upto Euro1.1 million in the Equity Shares of Global Mazinkert S.L, (Overseas Wholly owned Subsidiary of the Company) in order to support Global Mazinkert through long term capital. Global Mazinkert S.L is engaged in the acoustic business.
Uno Minda being the existing shareholder of the target entity, is holding 100% stake in Target Company. Post acquisition, the company’s stake in Global Mazinkert will remain same i.e. 100%. The board of directors at their meeting held on May 18, 2023 has approved the same.
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.
