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. |