Minda Industries Ltd. to invest in CSE Dakshnia Solar Pvt Ltd.

The Board of Directors of Minda Industries Ltd. at its meeting held today i.e. 22 May, 2021 has approved to make first tranche Investment in equity shares of CSE Dakshina Solar Private Limited, the Special Purpose Vehicle ('the SPV') Company.

The Board approved the acquisition of 33,750 equity shares of CSE Dakshina Solar Private Limited ('the SPV') of the face value of Rs.10 (Rupees Ten) each at a premium of Rs.70 (Rupees Seventy) i.e. Rs.80 (Rupees Eighty) per share, aggregating to Rs. 27,00,000 (Rupees Twenty Seven Lacs). With the aforesaid acquisition of shares, the company holds 27.55% of total paid-up share capital of the SPV. The aforesaid acquisition of the shares is for availing solar power for its plant at Chennai in Tamil Nadu.

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