India Business Excellence Fund invests Rs 40 cr in Minda Industries Ltd
Written by Sanjay   
Wednesday, 24 February 2010
Mumbai: The India Business Excellence Fund, managed and advised by Motilal Oswal Private Equity Advisors Private Limited (MOPE) has invested Rs. 400 million in Auto Component major, Minda Industries Ltd.

According to Nirmal Minda, Managing Director of Minda Industries, this investment from funds managed by MOPE at this stage will help the company to consolidate its leadership positions in the existing products and grow its new products / services aggressively.

Minda, which started as a meter manufacturer in 1957, is mainly engaged in the designing, developing and manufacturing of Switches and Lighting for 2/3/4 wheelers. They have recently ventured into Automotive Batteries and Blow moulded products for two/four wheelers. The company has established  manufacturing units spread over 6 locations.

The company has invested over 100 crores in building new capacities of newer products in the last 3 years. It is now set to benefit from the capacity built up and a well diversified product portfolio. The company has been successful in forging exclusive relationship with world class automakers like Volkswagen in India.

According to Raamdeo Agrawal, Chairman of MOPE, the Automotive Industry in India is in high growth phase and if the economy has to grow from USD 1 trillion to USD 2 trillion in the next 4 - 5 years, Automotive Industry has to play a pivotal role in such economic growth of India. Companies like Minda which have established a strong goodwill over the last 50 years, will hugely benefit from this high growth of the automotive industry in particular.

Delhi based Investment Bank - Dynamic Orbit Advisory Private Ltd. acted as the exclusive financial advisors to Minda Industries for the deal.

Related news
More recent
Earlier on