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02/05/2023
Minda Corp approaches CCI to acquire 24.5% stake in Pricol
Manufacturer of auto parts Minda Corporation will file an application before the Competitive Commission of India (CCI) to increase its stake in rival Pricol Ltd to 24.5%.In a BSE filing, Minda Corp said the company acquired 1.91 crore shares or 15.7% of equity at ₹209 a piece of Pricol in February this year. February's acquisition was done for ₹400 crore.
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And on Tuesday filing, the automotive components firm said, " The Board of Directors in its meeting held on 1st May 2023, decided to file an application to Competition Commission of India for making an investment in equity shares of Pricol Limited upto 25.5% of total equity shares of Pricol at this stage".