Auto ancillary Minda Corp approaches CCI to increase Pricol stake to 24.5% ...Middle East

Business Standard - Economy

Auto component maker Minda Corporation on Tuesday said its board has decided to approach the Competition Commission of India (CCI) to increase its stake in automotive technology firm Pricol to upto 24.5 per cent. On February 17, 2023, Minda Corporation had acquired a 15.7 per cent stake in Pricol by purchasing over 1.91 crore shares of the latter from the open market. "We would like to update that the Board of Directors in its meeting held on May 1, decided to file an application to CCI for making investment in equity shares of Pricol Ltd upto 24.5 per cent of total equity shares of Pricol, at this stage," Minda Corporation said in a regulatory filing. After buying the stake in February, Min

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