New Delhi: Uno Minda, a leading manufacturer of automotive components, has captured 50.10% stake in Buehler Motor GmbH with an investment of INR 17 crore.
The company has invested a sum of a little more than INR 6.04 crore by way of subscription to INR 60,42,060 equity shares of Uno Minda Buehler Motor Private Limited (UMBM). These equity shares were allotted on March 20, 2024 at a face value of INR 10 each, on right issue basis.
Uno Minda on November 10, 2022, had disclosed in its regulatory filings that the company is entering into a joint venture with Buehler Motor GmbH. The company had also stated about the equity investment of up to INR 17crore in the joint venture company for a 50.10% equity stake.
Following up on the same update, the company in its 20th March 2024 regulatory filing stated that post allotment, the investment of the company in the equity shares of UMBM stands at INR 11,87,37,000.
The Shareholding of the company in UMBM remains unchanged at 50.10%, the company added.
