The Board of Uno Minda at its meeting held on 29 September 2022 has approved incorporation of a joint venture company of Uno Minda and TACHI-S in India with a name of Uno Minda TACHI-S, or any other name as may be approved by Registrar of Companies, NCT of Delhi & Haryana (ROC) and to make investment by way of subscription to the Memorandum and Articles of Association of the proposed Joint Venture company.

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The Board of Uno Minda has approved to enter into a Joint Venture agreement with TACHI-S Company (TACHI-S), a global seat system creator headquartered in Tokyo, Japan, for manufacturing and marketing of seat recliners for four wheeler passenger vehicle in India.

The Joint Venture will offer various products including recliners in first phase with the intention of expanding into other seating mechanisms, seat frames and complete seating assembly.

Uno Minda will hold 51% stake in the Joint Venture while the remaining stake will be held by TACHI-S .

The joint venture will help expand Uno Minda its seating systems product offering in 4W Passenger vehicle as well.

In first phase, the Board has also approved investment up to Rs 10 crore for recliner product which has qualified for business from Indian OEMs.

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Uno Minda has allotted 265982 equity shares under ESOS on 21 September 2022. The paid-up equity share capital of the Company stands increased to Rs. 114,51,32,136.00.

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Uno Minda announced that ICRA has reaffirmed the long term rating of Uno Minda at [ICRA]AA+ (pronounced ICRA double A plus). The outlook on the long term rating is 'Stable'. The short term rating of the company is reaffirmed at [ICRA] A1+ (pronounced ICRA A one plus).

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