7 Feb 2022 , 01:15 PM
The Board of Minda Industries at its meeting held on 07 February 2022 has approved acquisition of stake in Samaira Engineering (partnership firm).
Samaira Engineering, is a partnership firm, between Paridhi Minda (holds 43.75%), Pallak Minda (holds 43.75%) and Sanjeev Garg (holds 12.50%). It is engaged in Manufacturing of auto electrical parts & accessories.
The Board approved the investment upto Rs. 8.88 crore in Samaira Engineering for acquisition of 43.75% stake from Paridhi Minda and 43.75% stake from PallakMinda. Post this acquisition, MIL will hold 87.50% stake in Samaira Engineering.
The transaction is expected to be completed on or before 31 March 2022.
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