This is not true. Minda Investments is the holding company of Minda Industries.
Minda group was the original company which was then divided in 1995 between two brothers Nirmal Minda and Ashok Minda. Nirmal Minda runs Uno Minda which is listed as Minda Industries. Ashok Minda runs Spark Minda which is listed as Minda Corporation.
Set up by their father Shadi Lal Minda in 1958, the company was first known as Minda Switch Auto in 1986. At the time of the split, the switch, light, horn and batteries division passed on to the elder brother, while the younger sibling Ashok Minda entered the domain of safety security and restraint systems, driver information and telematics systems and interior systems. These business demarcations ensured the two brothers did not compete with each other and facilitated each other’s independent growth.
NCLT process is still on. Next hearing in New Delhi NCLT is on 23rd December. Hopefully, merger would be concluded soon. Price arbitrage between Harita and Minda Ind of more than 20% looks very attractive.
NCLT Delhi approval received,Chennai awaited
We wish to inform you that the Composite scheme of amalgamation of Harita Limited (Transferor Company 1) and Harita Venu Private Limited (Transferor Company 2) and Harita Cheema Private Limited (Transferor Company 3) and Harita Financial Services Limited (Transferor Company 4) and Harita Seating Systems Limited (Transferor Company 5) with Minda Industries Limited (Transferee Company) (’‘the Scheme’’), has been sanctioned by Hon’‘ble National Company Law Tribunal, Bench VI, New Delhi (’‘NCL T’’) by vide Order dated February 1, 2021, copy of which was only available to us today i.e. February 5, 2021 when it was uploaded today on their website. Copy of the Order as downloaded from NCLT website is enclosed. However, the certified copy of the order of NCLT is still awaited.Info from MI on BSE site.
It may be noted that Order of NCLT, Chennai Bench having jurisdiction over the Transferor Companies is still awaited.
Activities on price and volume front was telling that merger process is near by. Price of harita has gone up . But it still gives very good opportunity for Minda shareholders who want to keep it for long term
On 100 harita cost is 66000 u get 152 Minda shares in merger so cost of Minda comes 435. One can sell old holding and buy harita proportionately.
Please go thru harita and Minda forum for more details
