Uno Minda to Invest in Special Purpose Vehicle for Solar Energy

Uno Minda Ltd's board has greenlit an additional investment of ₹2.27 crore, earmarked for subscribing to equity shares of Strongsun Renewables Pvt. Ltd., a subsidiary special purpose vehicle (SPV) of the company.

The investment, as detailed in the company's stock exchange filing, is intended to facilitate the procurement of additional solar power under a captive open access policy. This initiative targets Uno Minda's alloy wheel 2W division, located in Supa, Maharashtra. The investment will be made in one or more tranches.

Furthermore, the company has announced the appointment of A G Giridharan as the Chief Executive Officer of the SCS Domain, effective from April 1, 2024.

HBL