The shareholding of Minda Company Ltd can be reduced from 25% to 17.54%
Minda Company Ltd on Thursday mentioned its stake in Furukawa Minda Electric Pvt Ltd, a three way partnership with Japan’s Furukawa Electric group, can be reduced to 17.54 per cent following a share subscription settlement with its companion.
The corporate has entered right into a Share Subscription Settlement (SSA) with Furukawa Electric Firm Ltd (FEC), and Furukawa Automotive Programs Inc — FEC entities — on April 24, 2025, Minda Company Ltd mentioned in a regulatory submitting.
As per the SSA, the FEC entities have agreed to subscribe to 5 crore new fairness shares of ₹10 every of Furukawa Minda Electric Pvt Ltd (three way partnership), and upon completion of subscription and allotment of the brand new shares, the shareholding of FEC entities will enhance to 82.46 per cent from 75 per cent, it added.
The shareholding of Minda Company Ltd can be reduced from 25 per cent to 17.54 per cent, the corporate mentioned.
The JV, earlier named Minda Furukawa Electric Pvt. Ltd, was arrange in 2007 for manufacturing and gross sales of wiring harness and different automotive parts to Japanese automotive makers positioned in India.
In November 2018, Furukawa Electric Group had elevated its stake from 49 per cent to 75 per cent and the title was modified to Furukawa Minda Electric Pvt Ltd.
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Revealed on April 24, 2025
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