At meeting held on 07 February 2022
The Board of Minda Industries at its meeting held on 07 February 2022 has approved acquisition of stake in YA Auto Industries (partnership firm).YA Auto Industries, is a partnership firm, between Minda Industries (MIL) (holds 51%), Suman Minda (holds 36.50%) and Sanjeev Garg (holds 12.50%). It is engaged in manufacturing of Auto electrical parts.
The Board approved the further investment upto Rs. 1.79 crore in YA Auto Industries for acquisition of 36.50% stake from Suman Minda. Post this acquisition, MIL stake in YA Auto Industries, will be increased from 51% to 87.50%. The transaction is expected to be completed on or before 31 March 2022.
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