Minda Industries acquires 87.50% stake each in Samaira Engineering, and SM Auto Industries; Stock spurts 5%

25 Feb 2022 , 01:18 PM

Minda Industries Limited, the auto parts manufacturing company has bought an additional stake in two companies namely YA Auto Industries, and Auto Components, and purchased fresh shares in Samaira Engineering, and SM Auto Industries.

The company has acquired an additional stake of 36.50% in YA Auto Industries to increase its stake to 87.50%. It also acquired an additional stake of 46.10% in Auto Components to increase the stake to 95%.

The company acquired an 87.50% stake each in Samaira Engineering, and SM Auto Industries.

At around 1.22 pm, Minda Industries Ltd was trading at Rs929.90 per share up by Rs44.65 or 5.04% from its previous closing of Rs885.25 per share on the BSE.

“The company has acquired the stake from the concerned partners and the necessary payments to them have also been made on February 24, 2022,” company said in a filing on Thursday.