Minda Corporation Ltd’s shareholding will be reduced from 25% to 17.54%
Minda Corporation Ltd said Thursday that its shares in Furukawa Minda Electric Pvt Ltd, a joint venture with Japan’s Furukawa Electric Group, will be reduced to 17.54% following a share subscription agreement with its partners.
The company entered into a share subscription agreement (SSA) with Furukawa Electric Company Ltd (FEC) and Furukawa Automotive Systems Inc (FEC Entity) on April 24, 2025.
According to SSA, the FEC Entity has agreed to subscribe to £10 each of the 5 Krull new shares of Furukawa Minda Electric Pvt Ltd (Joint Venue), and upon completion of the subscription and allocation of the new shares, FEC Entity’s shares will increase from 75% to 82.46%.
Minda Corporation Ltd’s shareholding will be reduced from 25% to 17.54%, the company said.
A JV previously named Minda Furukawa Electric Pvt. Ltd was founded in 2007 to manufacture and sell wiring harnesses and other automotive parts to Japanese automakers in India.
In November 2018, Furukawa Electric Group increased its shares from 49% to 75%, and the name was changed to Furukawa Minda Electric Pvt Ltd.
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Released on April 24, 2025
