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Minda Corporation’s subsidiary Minda SAI Ltd has fully acquired EI Labs India for a consideration of Rs 6.5 crore.
The company has said in a BSE filing that Minda SAI Ltd, a subsidiary company of Minda Corporation has acquired 100 percent equity of EI Labs India Pvt Ltd from the existing Indian promoters.
It further said that the acquisition is a part of long term strategy of Minda SAI for growth to diversify into the new line of business of connected mobility and Internet of things.
