Uno Minda invests INR 8.41 cr in Tokyo-based TACHI-S for 51% equity stake – ET Auto

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Post allotment, the investment of the Company in the equity shares of UMTS stands at INR 8,40,99,000 with Shareholding in UMTS remains unchanged at 51%, the company said.

New Delhi: Uno Minda, a leading manufacturer of proprietary automotive solutions, has disclosed the progress of its equity investment in the Tokyo based TACHI-S Co. Ltd.

Uno Minda had announced its Joint Venture with TACHI-S Co. Ltd on September 29, 2022, in its regulatory filings. The company had informed that an equity investment of up to INR 10 crore in the joint venture company for a 51% equity stake will be made. In the first phase, the Board had also approved investment up to INR 10 crore for the recliner product.

On the progress of this strategic investment, the company added on March 26, 2024, that Uno Minda invested a sum of INR 1,57,59,000 by subscribing to 15,75,900 equity shares of Uno Minda Tachi-S Seating Private Limited (UMTS) at a face value of INR 10 each, on rights issue basis.

The company further added in its regulatory filings, “post allotment, the investment of the Company in the equity shares of UMTS stands at INR 8,40,99,000. The Shareholding of the company in UMTS remains unchanged at 51%.”

TACHI-S is a global seat system maker headquartered in Tokyo, Japan, manufacturing and marketing seat recliners for passenger vehicles in India. This collaboration was done to offer various products including recliners in the first phase with the intention of expanding into other seating mechanisms, seat frames and complete seating assembly.

  • Published On Mar 26, 2024 at 08:08 PM IST

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