UNO Minda Board Approves Merger with Subsidiary Minda Onkyo

UNO Minda Ltd announced that its Board of Directors has approved the Scheme of Amalgamation for merging its subsidiary, Minda Onkyo India Pvt. Ltd. (MOIPL), with the parent company, Uno Minda Limited (UML). The merger, subject to regulatory and shareholder approvals, aims to streamline operations and is considered in the best interest of all stakeholders. The transaction is deemed at arm's length, with valuations confirmed by an independent registered valuer and fairness opinion from an independent merchant banker. Both companies are involved in the manufacturing and sale of automotive components.