MINDA-HCMF Technologies Private Limited: Joint Venture for Automotive Sunroof Solutions

Minda Corporation Limited and HSIN CHONG MACHINERY WORKS CO., LTD (“HCMF”) have established a joint venture named MINDA-HCMF TECHNOLOGIES PRIVATE LIMITED. Both companies will equally contribute 50% of the share capital in cash. Incorporated in India on December 16, 2024, the joint venture aims to develop, manufacture, assemble, and commercialize automotive sunroof solutions, closure technology products, and related components. This transaction does not qualify as a related party transaction, and neither the promoter, promoter group, nor group companies have any interest in it.