Stay updated with breaking news from Vikram Mohan. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Analysts believe Minda is keen on expanding into the instrument-cluster market, which has a huge growth potential in the electrification of mobility. Pricol is the market leader in the product category, particularly in the two-wheeler segment.
On February 17, 2023, Minda Corporation had acquired a 15.7 per cent stake in Pricol by purchasing over 1.91 crore shares of the latter from the open market.
Minda had in February bought a 15.7% stake in Pricol for ₹400 crore in a surprise move that triggered a confrontation with the promoter group of the target company led by managing director Vikram Mohan.
‘As Managing Director and representative of the Promoter Group of Pricol Limited, I would like to reiterate that the Promoter group stands absolutely committed to the company and its future prospects,’ Pricol MD issues clarification
Noida-based auto components maker Minda Corp Ltd on Friday informed that it had bought 19.14mn (million) shares representing a 15.70% stake in Coimbatore-based Pricol Ltd.