The Board Committee of Minda Industries Ltd at its meeting held October 7, 2019 has approved the acquisition of 100% equity capital of the Delvis Group at a transaction value Euro 21 million, subject to adjustment, if any, at closing. The Delvis Group comprises of Delvis GmBH and its two wholly owned subsidiaries viz Delvis Products and Delvis Solutions. The Delvis Group is engaged in automotive lighting design & engineering.
The acquisition, is in line with strategy of the Company to maintain technology leadership in lighting products market in India. The acquisition will enable access to latest automotive lighting technology.
The transaction closing is subject to appropriate regulatory approvals. The estimated timeline for closure is 2 months.
Shares of MINDA INDUSTRIES LTD. was last trading in BSE at Rs.333.85 as compared to the previous close of Rs. 330.5. The total number of shares traded during the day was 13364 in over 549 trades.
The stock hit an intraday high of Rs. 336 and intraday low of 320.35. The net turnover during the day was Rs. 4458178.