The JV company will be a subsidiary of Uno Minda. The total capital expenditure to be incurred over the period of six years in the proposed JV company would be Rs. 110 crores.
Minda iConnect, the connected vehicle and telematics arm of Uno Minda Group, today inked a strategic pact with Microsoft India in this regard.
Shares of Minda Industries gained more than 7 percent intraday Friday on group company's joint venture with Japanese alloy wheel manufacturer.