The board of Uno Minda Ltd has approved an additional investment of ₹2.27 crore by way of subscription of equity shares of Strongsun Renewables Pvt. Ltd., a special purpose vehicle (SPV) of the company.
According to the company’s stock exchange filing, the investment is aimed at sourcing additional solar power under a captive open access policy for its alloy wheel 2W division situated at Supa, Maharashtra, in one or more tranches.
In addition, the company announced the appointment of A G Giridharan as CEO-SCS Domain with effect from April 1, 2024.
The stock has inched up by 0.93 per cent on the NSE to trade at ₹691.15 as of 1.21 pm.