Minda Corpo approves Rs. 600 Cr fundraising proposal

Minda Corporation bags EV battery charger order worth Rs.750 Cr

Minda Corporation Limited’s Board of Directors convened on Friday, June 2, 2023, and made significant strides towards the company’s growth and development. During the meeting, the Board gave its unanimous approval to a proposal aimed at raising funds. The funds will be generated through the issuance of securities, utilizing both public and private offerings. This approach includes various methods such as preferential issue, qualified institutions placement, further public offer, or any other permissible modes, which may be executed in one or multiple stages.

The aggregate amount to be raised through these channels is set at INR 600 Crores (Rupees Six Hundred Crores only). It is important to note that all actions taken will comply with the relevant provisions of applicable law and are subject to the approval of the Company’s shareholders, as well as the receipt of necessary regulatory clearances.

The decision to raise funds by issuing securities reflects the Company’s commitment to augment its financial resources, further bolstering its operations and expanding its presence in the market. This move signifies Minda Corporation Limited’s dedication to remaining at the forefront of its industry, utilizing strategic measures to achieve sustained growth and success.

About Minda Corpo:

Minda Corporation Limited is a company that specializes in manufacturing electronic and mechanical security systems. They provide a range of systems and electronic controllers specifically designed for electric vehicles. Minda serves clients from around the globe.

For more of the Latest News, Click Here

Leave a Reply

Your email address will not be published. Required fields are marked *