Joint Venture25 Jun 2025, 05:31 pm
ASK Automotive Ltd to Enter Joint Venture with T.D. Holding GMBH for Manufacturing Sunroof Control Cables
AI Summary
ASK Automotive Ltd has announced that their Board of Directors has approved a joint venture with T.D. Holding GMBH (TDH) for manufacturing, marketing, and selling sunroof control cables and/or helix cables for passenger vehicles through a Joint Venture Company (JV Co.). ASK Automotive will own 49% of the shareholding in the JV Co. and infuse funds up to Rs. 2,45,00,000/- (Two Crores and Forty-Five Lakhs Only) in one or more tranches. TDH will own the remaining 51% of the shareholding. The detailed disclosure will be submitted to the stock exchanges upon signing of the Joint Venture Agreement.
Key Highlights
- ASK Automotive Ltd to enter a joint venture with T.D. Holding GMBH
- Joint Venture Company to manufacture, market, and sell sunroof control cables and/or helix cables for passenger vehicles
- ASK Automotive to own 49% of the shareholding and infuse funds up to Rs. 2,45,00,000/-
- T.D. Holding GMBH to own 51% of the shareholding
- Detailed disclosure to be submitted to stock exchanges upon signing of Joint Venture Agreement