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Minda Industries merges four subsidiaries to bolster growth

Auto News - Published on Tue, 21 May 2019

Image Source: Autocar Professional
Minda Industries flagship company UNO Minda Group has approved the merger of four of its wholly owned subsidiaries: Minda Rinder, Minda Distribution, Minda Auto Components and MJ Castings. Subject to necessary statutory and regulatory approvals including the approval of the jurisdictional 'National Company Law Tribunals', the estimated implementation time-frame is expected by the end of the financial year.

According to Minda Industries, the merger is to create a stronger standalone entity to pursue the next leg of growth. The merger is expected to drive a lot of operational, strategic synergies and create value for all stakeholders.

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Posted By : Rabi Wangkhem on Tue, 21 May 2019
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