On Monday, February 12, Minda Corporation Ltd, the primary entity of Spark Minda, has announced the acquisition of a notable contract from a prominent Indian two-wheeler original equipment manufacturer (OEM) for the production of intelligent key systems.
Minda Corp is a renowned name in the automotive sector, specializing in manufacturing high-quality components and solutions for automobiles. With a strong global presence, Minda Corp delivers innovative products across various segments, including safety, security, and comfort systems. Committed to excellence, the company leverages advanced technology and rigorous quality standards to meet the diverse needs of its customers.
Minda Corp’s comprehensive range of offerings caters to both domestic and international markets, driving efficiency, performance, and sustainability in the automotive industry. With a focus on continuous improvement and customer satisfaction, Minda Corp remains a trusted partner for leading automotive manufacturers worldwide.
In a recent announcement, the company revealed its new collaboration with a Japanese counterpart aimed at producing innovative smart vehicle access systems. According to a filing made with the stock exchange, these systems will be manufactured at Spark Minda’s Pune facility.
The initial phase of the partnership underscores Spark Minda’s commitment to delivering customized solutions driven by cutting-edge technology, aimed at enhancing user satisfaction and convenience. As consumer demand for high-quality products continues to rise, this joint effort will solidify the company’s position as a pioneering entity in the realm of vehicle access solutions, as stated by Minda Corporation.
“Our steadfast dedication to the Make in India initiative and our aspirations to excel globally in vehicle access solutions are underscored by this pivotal partnership and significant order win,” remarked Aakash Minda, the executive director of the company. He further emphasized their relentless commitment to advancing product and technology offerings beyond conventional limits.
In the preceding month, Minda Corporation Ltd executed a strategic move, divesting a 15.07% stake in automotive components manufacturer Pricol Ltd for approximately ₹631 crore through an open market transaction. This transaction resulted in a reduction of Minda Corporation’s ownership in the company from 15.70% to a mere 0.63% by the end of the December quarter.
In February 2023, Minda Corp purchased 1.91 crore shares, constituting 15.7% of Pricol’s overall equity, at a price of ₹209 per share, amounting to a total of ₹400 crore. Initially thought to be a takeover bid, Minda Corp later clarified that their investment in Pricol was purely financial in nature, conferring no unique privileges beyond those enjoyed by ordinary shareholders.