Published on 13/08/2020 12:10:01 PM | Source: Angel Broking Ltd

Quote on Minda Industries Rights Issue By Rajit Rajoriya, Angel Broking

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Below is the Quote on Minda Industries Rights Issue By: Mr. Rajit Rajoriya- Equity Research Associate, Angel Broking Ltd

“Auto parts maker Minda Industries' board has fixed the issue price for its Rs 250 crore rights issue.  Company will issue right at issue price of Rs250 per Equity Share, 1 fully paid-up Equity Share for every 27 Equity Shares held by eligible shareholders of the Company as on the record date.  The record date for the purpose of determining the equity shareholders who are entitled to receive the rights entitlement in the Rights Issue is August 17, 2020. Issue will open on 25th Aug 2020 and will close on 8th September 2020. Minda Industries is a flagship company of Uno Minda Group which manufactures automobile components for original equipment manufacturers. It is an Rs 8,000 crore group with over 62 manufacturing plants globally. Company is into auto components manufacturing and has a well diversified product profile with strong presence both in the 4-wheeler and 2-wheeler market.”


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