Shares of Minda Company Ltd rallied 5% on 15 January after the corporate introduced its plans to accumulate a 49% stake in automotive products-maker Flash Electronics for a complete consideration of Rs 1,372 crore.
In its change submitting, the corporate stated that the Board of Administrators has accepted its plans to accumulate 2.55 crore fairness shares of Flash Electronics, which symbolize a 49% stake within the firm.
The corporate is anticipating this acquisition to be accomplished earlier than 31 January 2025.
The acquisition can be finished in money and received’t have any share swap or different associated strategies.
The corporate, in its submitting, added, “The funding is a strategic partnership and would assist unlock synergies throughout merchandise, prospects, expertise and manufacturing excellence.”
Flash Electronics manufactures greater than 150 automotive merchandise, which embrace electrical mobility, gears, shafts, sprockets, throttle our bodies, exhaust, gasoline and temperature controls, in addition to emissions controls for two, 3 and 4-wheelers, as per its web site. The Delhi-based firm, which was based in 1989, now has 8 manufacturing vegetation throughout India, Germany and Hungary and had a consolidated turnover of Rs 1,340 crore in 2023-2024, the change submitting stated.
Minda Company is primarily engaged in manufacturing automotive elements. The group was based in 1985 and presently has a presence in Indonesia, Vietnam, Europe, Japan and Uzbekistan.
At 11:23 am, the shares of Minda Company have been buying and selling 4.84% greater at Rs 568.20 on NSE.
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