Minda Industries has received board’s approval for amalgamation of four domestic wholly owned subsidiaries (WOS) with the company namely, Minda Rinder, Minda Distribution & Services, Minda Auto Components and M J Castings.
The rationale behind this merger is to create a stronger standalone entity to pursue the next level of growth. This scheme of amalgamation is subject to necessary statutory and regulatory approvals including the approval of the jurisdictional National Company Law Tribunals. The amalgamation is expected to be completed by the end of financial year.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.