As per the filing, the investment has been made in the aforesaid company, after obtaining the requisite approvals including Reserve Bank of India (“RBI”) under Overseas Direct Investment (“ODI”) guidelines.
FRIWO AG is engaged in the business of designing, development, manufacturing, power supply, chargers, motor control units and other products for various sectors and geographies.
The industry belongs to innovative system providers of intelligent power supply and drive solutions, the company said in a filing.
At around 12:43 PM, Minda Industries was trading at Rs944.75 per share up by Rs1.5 or 0.16% from its previous closing of Rs943.25 per share on the BSE.
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