Minda Corporation shines on getting nod to acquire 49% stake in Flash Electronics (India)
Minda Corporation is currently trading at Rs. 567.90, up by 26.10 points or 4.82% from its previous closing of Rs. 541.80 on the BSE.
The scrip opened at Rs. 547.95 and has touched a high and low of Rs. 571.80 and Rs. 547.00 respectively. So far 67647 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 652.90 on 26-Aug-2024 and a 52 week low of Rs. 366.95 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 571.80 and Rs. 504.95 respectively. The current market cap of the company is Rs. 13578.52 crore.
The promoters holding in the company stood at 64.84%, while Institutions and Non-Institutions held 26.41% and 8.75% respectively.
Minda Corporation has received approval from board of directors to acquire 2,55,40,578 Equity Shares with face value of Rs 1 each of Flash Electronics (India) representing 49% of the total issued and paid-up equity share capital.
The investment is a strategic partnership and would help unlock synergies across products, customers, technology and manufacturing excellence. The said acquisition would be completed on or before January 31, 2025.
Minda Corporation is a diversified company with a product portfolio encompassing from Mechanical & Electronic Security System, Door System, Electronic Controllers for Electric Vehicles, Plastic Interiors and for Auto OEM's across the Globe.
