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( As on 24/04/2025 13:46)

Minda Corp’s Stake in Furukawa JV Slips to 17.54% After Share Subscription Deal

Minda Corporation Ltd announced on Thursday that its stake in Furukawa Minda Electric Pvt Ltd, its joint venture with Japan’s Furukawa Electric group, will decrease to 17.54% following a new share subscription agreement.

According to a regulatory filing, Minda Corp entered into the agreement on April 24, 2025, with Furukawa Electric Company Ltd (FEC) and Furukawa Automotive Systems Inc, both part of the FEC group.

Under the agreement, the FEC entities will subscribe to five crore new equity shares of ?10 each in the joint venture. Following the completion of this transaction, the FEC group's stake will rise from 75% to 82.46%, thereby reducing Minda Corp’s holding accordingly.