Minda Industries Ltd to invest in CSE Dakshnia Solar Pvt Ltd

The Board of Directors of Minda Industries Ltd at its meeting held today i.e. 22 May, 2021 has approved to make first tranche Investment in equity shares of CSE Dakshina Solar Private Limited, the Special Purpose Vehicle ('the SPV') Company.

The Board approved the acquisition of 33,750 equity shares of CSE Dakshina Solar Private Limited ('the SPV') of the face value of Rs.10 (Rupees Ten) each at a premium of Rs.70 (Rupees Seventy) i.e. Rs.80 (Rupees Eighty) per share, aggregating to Rs. 27,00,000 (Rupees Twenty Seven Lacs). With the aforesaid acquisition of shares, the company holds 27.55% of total paid-up share capital of the SPV. The aforesaid acquisition of the shares is for availing solar power for its plant at Chennai in Tamil Nadu.

Shares of MINDA INDUSTRIES LTD. was last trading in BSE at Rs.561 as compared to the previous close of Rs. 563.75. The total number of shares traded during the day was 27737 in over 1674 trades.

The stock hit an intraday high of Rs. 577.1 and intraday low of 555.7. The net turnover during the day was Rs. 15762892.

Source : Equity Bulls

Keywords