M&M buys 66 per cent stake in DGP Hinoday
India’s top utility vehicle maker, Mahindra & Mahindra Ltd has bought a 66 per cent stake DGP Hinoday Industries Ltd, a local casting company, for an undisclosed amount, the company said on Monday.
The company acquired the shares from the existing shareholders, DG Piramal Group and India Private Equity Fund Mauritius. Hitachi Metals holds the balance 34 per cent equity stake. Hinoday, based out of Pune is a market leader in casting and ferrites.
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