Minda Onkyo India Private Limited announced that it will receive INR 75 million in an equity round of funding on May 16, 2018. The transaction will include participation from existing investors ONKYO Corporation (JASDAQ:6628) and Minda Industries Limited (BSE:532539) for INR 37.5 million each. Post the closing, the investors will continue to maintain there 50% stake respectively in the company.

Post the closing, the registered capital will increase from INR 165 million to INR 240 million. The transaction is expected to close in mid of June 2018.