Uno Minda has received approval to acquire further stake in Minda Onkyo India (MOIPL), a 50:50 Joint Venture Company of Uno Minda and Onkyo Sound Corporation, Japan, by acquisition of 49% stake (Equity Shares) of MOIPL from Onkyo Sound Corporation, Japan, in a phased manner. Post-acquisition, MOIPL shall become Subsidiary of the Company. Further, the business will be similar to the main line of businesses of Uno Minda.
The board has also approved the detailed project report and investment in Sunroof project for an amount of Rs 62.69 crore. The Board of Directors of the Company, at its meeting held on August 07, 2024, has, inter-alia, 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.
