Auto component maker Ashok Minda Group has roped in city-based advisory firm Dynamic Orbits to raise private equity of about Rs 125 crore for expansion purposes.
"We plan to raise Rs 100 crore to Rs 125 crore through private equity for the Group. It has plans for expansions and acquisitions," said Dynamic Orbits Managing Director B L Bajaj.
The Rs 1,800-crore group is eyeing acquisitions and expansion of production capacity to keep up with the growing demand for OEMs, Dynamic Orbits said in statement today.
"Our operations are evenly spread across India, South-East Asia and Europe, and we aspire to become a true MNC in the auto component sector," said group CFO D C Sharma.
The group is present in India, Indonesia, Vietnam, Germany, Poland and Czechoslovakia. It has 16 plants in India and nine outside it -- employing as many as 8,000 people.
Minda Corporation Ltd, the flagship company of the Group, closed financial year 2009–2010 with a turnover of Rs 347 crore and profit after tax of Rs 18 crore. The group's total turnover amounted to around Rs 1,800 crore.
Dynamic Orbits focuses on mergers, acquisitions and fund-raising through private equity or debt.
