Minda Industries - Announces Fresh Round Of Capex, Investment Spends: ICICI Direct

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Minda Industries Ltd. is India’s largest maker of automotive switches, horns, seats and passenger vehicle alloy wheels and third largest automotive lighting player.The company announced fresh capex in alloy wheel space, equity investment in FRIWO AG, formation of joint venture with FRIWO AG for electric vehicle components. Minda Industries guided for: expansion in alloy wheel capacity across the two-wheeler and four-wheeler segments at a capex outlay of ~Rs 264 crore; formation of joint venture (50.1% stake) with FRIWO AG for electric vehicle components for two-wheeler, three-wheeler with initial investment commitment of ~ Rs 71 crore (over the next three years); equity investment in FRIWO AG through fresh issuance of shares for a total value of €15 million (~Rs 130 crore) subject to regulatory approvals..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Minda Industries - Announces Fresh Round Of Capex, Investment Spends: ICICI Direct

Minda Industries - Announces Fresh Round Of Capex, Investment Spends: ICICI Direct

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