Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
The Competition Commission of India (CCI) has approved Minda Corporation Ltd (Minda) to acquire up to 8.79% of the equity share capital of Pricol Ltd (Pricol). The acquisition, which involves a stake purchase in Pricol by Minda, has received the regulatory nod from CCI.
Minda Corporation Ltd, known for its manufacturing of auto components, serves original equipment manufacturers (OEMs) and tier-1 clients across various segments in India. On the other hand, Pricol Ltd specialises in manufacturing automobile components for OEMs, Tier-1 suppliers, and replacement markets both domestically and internationally.
Earlier, CCI had expressed concerns about the potential adverse effects on competition arising from the proposed combination of Minda and Pricol. However, after further examination, the regulatory body has given the green light for the acquisition.
In a related development, Pricol had previously raised objections against Minda's application to CCI, seeking approval for acquiring an equity stake of up to 24.5% in the company. However, the current approval pertains to Minda's acquisition of up to an 8.79% stake in Pricol.
This approval marks a significant step forward for Minda Corporation's strategic plans and underscores its commitment to enhancing its position in the automotive components market.
Also Read : Kilburn Engineering expands thermal portfolio with acquisition of M E Energy Yulu raises ₹160 crore in equity funding to boost electric mobility
PM Modi sets bold targets for 300 MT steel capacity by 2030 at India Steel 2025. Focus on green ste...
Business 25-Apr-2025
Coal India Limited (CIL) and Neyveli Lignite Corporation India Limited (NLCIL) under the Ministry of...
Renewables 22-Feb-2024
NTPC mentioned that the Ayodhya Solar Photovoltaic Project, with a 14 MW capacity, has been put into...
Mid Corporate 15-Feb-2024
Tata Steel’s UK business could see a much-needed recovery after the UK government announ...
Business 23-Mar-2026
InCred, an analyst organisation, predicts that domestic steel spreads in India will fall further in...
Ferrous 26-Jun-2024
Kalyani Steels Ltd on Wednesday said it has emerged as a successful bidder to acquire assets of Kami...
Press Releases 11-Jan-2024