Uno Minda has received approval for the further investment of upto Rs 5 crore in the shares of Uno Minda Auto Spare Parts and Component Trading L.L.C., Dubai to be made by Sam Global Pte, Singapore, wholly-owned subsidiary of the company. The proposed acquisition is made to facilitate business operations of the step down wholly owned subsidiary. The proposed investment is expected to be completed in one or more tranches within a period of 3 year.
The Board of Directors of the company in its meeting held on November 12, 2024, 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.
