Uno Minda gets govt approval for Inovance Automotive's investment in arm
This story was originally published at 12:55 IST on 22 June 2026
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NEW DELHI – Uno Minda Ltd. Monday said it has received approval from the Ministry of Heavy Industries for the proposed investment by Inovance Automotive (HK) Investment Co. Ltd. in Uno Minda's wholly owned subsidiary, Uno Minda Auto Innovations Pvt. Ltd. The company said the approval was received on Friday under Press Note 3 of 2020 issued by the Department for Promotion of Industry and Internal Trade.
However, the proposed investment by Inovance Automotive (HK) remains subject to regulatory, statutory, and government approvals in China and Hong Kong, the company said in the exchange filing. Inovance Automotive plans to buy equity shares of Uno Minda Auto Innovations post which the latter will become a joint venture between Inovance Automotive and Uno Minda. Post the stake buy, Inovance Automotive will hold 30% stake in the joint venture and Uno Minda's stake will come down to 70%. This plan was approved by Uno Minda's board of directors in February 2025.
The joint venture will develop and manufacture high-voltage electric vehicle powertrain products for passenger and commercial vehicles. These products include combined charging units, e-axles, inverters and electric motors. The joint venture will also undertake the design, engineering, manufacturing, marketing, sale and distribution of these products within the agreed territory.
For the March quarter, Uno Minda reported a consolidated net profit of INR 3.26 billion on revenues of INR 53.36 billion. At 1228 IST, shares of the company traded at INR 1,120.90 on the National Stock Exchange, up 0.5%. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Gunjan Rajput
Edited by Deepshikha Bhardwaj
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