The auto component maker Ashok Minda Group has recently roped in the PE group Dynamic Oribts and has pumped fresh Rs 125 crore into the business to fulfil the expansion plans of the company.
Dynamic Orbits Managing Director B. L. Bajaj said that the PE group is working on plans to raise close to Rs. 100 to 125 crore for the business as it will be used for the expansion plans and acquisition by the company.
In fact, the company also said in a statement today that the Rs 1,800-crore group is aiming for expansion plans and acquisitions to keep up with the rising demand of OEMs in the country.
Group CFO D C Sharma said that the operations of the company are widely spread into regions like the South East Asian and European markets and the company is aiming to become a global company as far as the auto components market is concerned.
As the Group currently employs close to 8,000 people and has around 16 plans in India and even nice outside the country has significant presence in areas like Indonesia, Vietnam, Germany, Poland and Czech Republic.
Source: Top News