Minda Corp. Acquires Stake in Pricol
20 February 2023: The media has highlighted an announcement by Minda Corp. in an exchange filing, which states that it has acquired a 15.7 percent stake in Pricol Ltd. by purchasing 19.1 million shares at an average price of 208.98 each, through open market purchases, terming the Rs.400 crore transaction as a financial investment.
For over six decades, Spark Minda (erstwhile MINDA Group) has a major presence in Global Automotive Industry and is one of the leading manufacturers of automotive components for the OEMs. The US$507 Million Group, with a workforce of more than 16,000 is catering to the leading Passenger Vehicle, Commercial Vehicle, Motorcycle and Scooter, Off-road Vehicle and Tier 1 Manufacturers in India with presence in Indonesia, Vietnam, Uzbekistan, USA and Japan. They also serve to after market segment in India through a strong dealer distributorship of about 450 dealers.
With a vision to bring innovation in the manufacturing of automotive instruments, Pricol began its operations in 1975 at Coimbatore in South India. In the last four decades, Pricol has become a reputed global brand in the automotive instruments and products business. Taking forward this legacy of long-standing customer trust, today, Pricol is pioneering excellence and innovation as an automotive technology company. Their precision-engineered automotive technology solutions are customer-centric, feature-driven and interface-rich.
Pricol’s strength is its 5100-strong professional and dedicated personnel and a collaborative work culture that nurtures their growth and encourages them to pursue the mission to be passionate, sustainable, dynamic and evolving. Pricol is built on generating value and propelling positive change. They constantly evolve and always adhere to creating value for all our stakeholders, i.e. customers, suppliers, shareholders and employees and the communities we are engaged in. They remain sensitive to their core belief system and are committed to consistently delivering value.
