Minda said in the investor presentation that it will aim for 3.5x growth in revenue at over Rs 17,500 crore by FY30 with an EBITDA margin of over 12.5 percent. The company has lined up a planned capex of of approximately Rs 2,000 crore over the next five years.
Operating revenue rose to Rs 1,253 crore for the third quarter, as against Rs 1,166 crore in the year-ago period, Minda Corporation said in a statement.
The investment is a strategic partnership and would help unlock synergies across products, customers, technology and manufacturing excellence, says Minda Corp
The decision taken at the board meeting allows for multiple potential routes for fundraising, including a preferential allotment of shares, or a QIP.
"This collaboration underscores our commitment to Atmanirbhar Bharat, as we strive to deliver comprehensive system solutions encompassing product design, development, and manufacturing for passenger vehicles," Minda Corporation Chairman & Group CEO Ashok Minda said in a statement.
As per bulk deal data on the exchanges, Motilal Oswal Financial Services purchased 4,370,000 shares of the company
Shares of Minda Corporation had closed 5.03 percent higher at Rs 426.65 on the BSE.