Minda Corporation has invested in 1,50,00,000 equity Shares of Spark Minda Green Mobility Systems (SMGM), the wholly owned subsidiary of the Company for an amount of Rs 15 crore by way of subscription to rights issue of Rs 10 each.
Investment has been done for general business purposes and running the operation of SMGM. Investment will enable the SMGM to run its business smoothly. There will be no change in shareholding of the company in SMGM. SMGM will continue to remain a wholly owned subsidiary of the company.
Minda Corporation is a diversified company with a product portfolio encompassing from Mechanical & Electronic Security System, Door System, Electronic Controllers for Electric Vehicles, Plastic Interiors and for Auto OEM's across the Globe.
