Sundaram Finance Holdings to raise stake in Italy's Mind for $2.3 M

Sundaram Finance Holdings Ltd is to invest EUR 2 million (USD 2.3 million) in its portfolio company Mind S.r.l., Italy, to augment working capital needs and for further growth. Last year, Sundaram Finance Holdings entered the carbon fibre market and invested INR 23.71 crore to pick up a 40.6% stake in Mind. With the fresh investment, the stake is expected to go up to 48.9%. The Italian firm focuses on producing carbon fibre components for the automotive industry in Europe.