Sundaram Finance Holdings (SFH) is putting in further 2 million Euros in it’s portfolio company Mind S.r.l., Italy (MSI), to augment the working capital needs and for further growth.
Key points to note –
- MSI manufactures carbon fibre components for the automotive industry in Europe.
- SFH had acquired 40.6% stake in MSI last year for Rs 23.71 crore. With fresh investment, it’s stake stands increased to 48.9%
- SFH is a holding company owning a portfolio of automotive businesses including foundries, wheels, brakes, turbo chargers, axles, and distribution of spare parts.
- Over the last year, SFH consolidated it’s stake in two portfolio companies — Brakes India and Wheels India — by investing Rs 450 crore to buy out the foreign partners. It is also consolidating foundry business by increasing stake in Flometallic India Pvt. Ltd.
If you are bullish on auto ancillaries business, SFH seems a very interesting company to keep a watch on !