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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