Uno Minda’s subsidiary -- Minda Onkyo India has entered into a Technical License Agreement (TLA) with Hyundai Mobis, Korea on September 25, 2024. The TLA is for manufacturing of licensed products i.e. Speakers.
Earlier, Uno Minda had acquired 2,39,05,819 equity shares i.e., 30% stake of Minda Onkyo India (MOIPL) from Onkyo Sound Corporation, Japan, for a total consideration of Rs 1.53 crore, as per the valuation price of Rs 0.65 per equity share. With this acquisition, the stake of the company in MOIPL stand increased to 80% and MOIPL become a subsidiary 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.
