Uno Minda has completed the sale of 26% stake (31,20,000 equity shares of face value of Rs 10 each) held in Minda Nexgentech (MNGTL) to Pioneer Finest at a total consideration of Rs 2.08 crore. Accordingly, effective from May 31, 2023, MNGTL has ceased to be an associate company of Uno Minda.
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.