Can the Coimbatore-based auto components maker preempt a possible takeover attempt?.In February, Minda said it acquired a 15.6% stake in Pricol from the open market. This set off panic among Pricol’s stakeholders as the promoters do not have a majority stake.
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Minda Corp filed an application with the Competition Competition of India (CCI) to get clearance to acquire a 24.5% stake in Pricol, which is a leading manufacturer of instrument clusters in India, while Minda Corp has a much smaller share of the market.
The Company has filed a preliminary objection against the Minda Corporation Ltd s application to the CCI for making investment in Equity Shares of Pricol Limited upto 24.5% of total Equity Shares of Pricol.
Uno Minda filed an application with the Competition Competition of India (CCI) to get clearance to acquire a 24.5% stake in Pricol, which is a leading manufacturer of instrument clusters in India, while Minda has a much smaller share of the market.