At meeting held on 09 April 2019
The Board of Minda Industries approved the acquisition of 41.67% stake (i.e. 18,33,35,070 equity shares) of Toyoda Gosei Minda India (TG Minda), subject to necessary consents/ permissions.TG Minda is a Joint Venture Company of UNO Minda Group and Toyoda Gosei Co., Toyota Tsusho Corporation, Japan.
TG Minda is engaged in the manufacturing of Airbags, Steering Wheels with Airbags and Body Sealing for automobiles and supplies to Maruti Suzuki & Toyota Kirloskar.
The manufacturing facilities of TG Minda is located at Neemrana in Rajasthan, Bawal in Haryana and in Gujarat (under construction).
Minda Industries is holding 2,69,84,930 equity shares (6.13%) in TG Minda.
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