Minda Industries Limited (BSE:532539) is seeking to raise funds to the tune of INR 5 billion so as to consolidate its business. NK Minda, Chairman of the company said management is still evaluating an option for dilution of equity. The promoters hold around 70 percent, of which a 5-7 percent dilution is possible. Minda Industries will use the funds raised for consolidating its business as well as for large orders. Of INR 5 billion raised, INR 2 billion will be set aside as reserve cash by the company.