Uno Minda Limited (formerly Minda Industries Limited) has announced a Scheme of Amalgamation involving 12 of its promoter group entities merging into Minda Investments Limited.
This consolidation aims to streamline the structure of the promoter group. The scheme is subject to approval from the Reserve Bank of India (RBI), shareholders, creditors, and other relevant authorities, with a no-objection application already filed with the RBI. Entities involved in the amalgamation include Minda Finance, Singha! Fincap, and Minda Projects Limited, among others. Despite the restructuring, the overall promoter shareholding in Uno Minda will remain unchanged.
The scheme, if approved, will result in a more efficient and simplified promoter structure. As of 3:30 pm, Uno Minda shares showed a marginal increase of 0.057%, trading at ₹1,151.00.
