Uno Minda inventory value: Surges 10% on This fall present, fundraising plans

Shares of Uno Minda Ltd surged over 10 per cent on Thursday after reporting sturdy monetary efficiency for This fall-FY24 and fundraising plans.

• Additionally learn: Uno Minda indicators technical license settlement with Starcharge Power

The corporate reported its consolidated web revenue for the quarter ended March at ₹269 crore (excluding distinctive earnings) a bounce of 47 per cent over ₹183 crore posted within the corresponding quarter final yr. Revenues elevated 31 per cent to ₹3,794 crore ( ₹2,889 crore) The board thought of authorisation from shareholders for fundraising as much as ₹2,000 crore by way of situation of securities together with international foreign money convertible bonds (FCCBs) or different monetary devices/securities convertible into fairness shares, any secured or unsecured bonds/NCDs by the use of a public or personal placement together with however not restricted to Certified Establishments Placement in a number of tranches.

Moreover, the board has additionally authorized acquisition of 1.97 per cent stake in Toyoda Gosei Minda India from Minda Funding.