Minda Corporation to acquire 49% stake in Flash Electronics for INR 1,372 cr.
Minda Corporation, the flagship company of Spark Minda Group, is to acquire a 49% equity stake in Flash Electronics for INR 1372 crores. The Transaction is valued at the Enterprise Value of INR 31 Billion (Equity Valuation INR 28 Billion). This will be an all Cash Deal.
Together, the companies aspire to develop the country’s fast-growing EV platform.
Flash has been supplying electricals and electronics for two and three-wheeler ICE, specialising in ignition electricals and electronics. In the EV ecosystem, Flash is a solution provider for EV motors, motor controllers, vehicle control units, etc. Flash will also soon launch electric powertrain solutions for passenger cars and commercial vehicles. Minda has developed products like battery chargers, DC-DC converters, power electronics products, battery telematics, etc. This move aligns with Minda Corporation’s long-term business strategy aimed at expanding our presence in the auto components industry as a complete systems solution provider and capturing a greater share of the fast-growing automotive segment in India.

Flash Electronics is expected to achieve revenue over Rs.1500 Crores in FY 25 and has been delivering a CAGR of over 17%. The company is expected to deliver an EBITDA margin of around 14% and a steady ROCE of over 22%.
Ashok Minda, Chairman & Group CEO, Minda Corporation, said, “I have had the privilege of knowing Mr. SANJEEV VASDEV for many years, and we together are thrilled to embark on this strategic partnership journey with Flash Electronics. One plus one will be eleven. This Partnership fits perfectly, Strategically and Financially in Minda Corporation’s long-term vision of creating value for customers and shareholders.”
Mr. Sanjeev Vasdev, Managing Director, Flash Electronics (India) Pvt. Ltd., commented: “I am confident that this partnership will catapult both the companies to a different level, the thing I am most excited about is having Ashok ji by my side and also having the opportunity to interact and work with Aakash.”
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