Minda Industries Limited

Minda Industries on Wednesday said it had signed an agreement with Japan-based Katolec Corp for a 51:49 joint venture to manufacture high-end electronic products. The joint venture company is proposed to be set up in Pune, the company informed the exchanges. The joint venture would have initial paid-up share capital of ₹15.07 crore. Of the five directors on the board of the proposed venture, three would be from Minda Industries and two from the Japanese company. Shares of Minda Industries were up 3.85 per cent at ₹394.05 on the NSE.