The board of Minda Corporation has approved a significant fundraising initiative through Non-Convertible Debentures worth up to ₹500 crore via private placement. According to the latest reports, the company will issue 50,000 NCDs with a face value of ₹1 lakh each, to be issued in one or more tranches. This substantial capital raising move demonstrates the company's strategic focus on strengthening its financial position for future growth opportunities.
The board has also authorized the incorporation of a wholly owned subsidiary in China with an investment of up to $1 million. As reported, this new entity will operate in the automotive industry and focus on exploring new business opportunities, products, technologies and partnerships in the Chinese market. This strategic expansion into China represents a significant step in Minda Corporation's international growth strategy and market diversification efforts.
In addition to the major initiatives, the board has approved key leadership appointments including Meenal Bansal as Company Secretary and Geetika Mishra as Chief Procurement Officer. The company has also paid a ₹2,000 penalty to BSE for delayed shareholding pattern filing, demonstrating its commitment to regulatory compliance. These appointments strengthen the company's operational leadership structure for future growth initiatives.
The board has also approved the sale of its investment in EVQ Point Solutions at a meeting held on 24 September 2026. According to reports from Business Standard, the sale will be executed through the company's wholly owned subsidiary Spark Minda Green Mobility Systems. As reported by Business Standard, EVQ Point Solutions is classified as a step-down associate company of Minda Corporation, with the subsidiary Spark Minda Green Mobility Systems currently holding a 29.5% equity stake in EVQ Point Solutions.
According to the report, the sale will be conducted through Spark Minda Green Mobility Systems, which serves as the wholly owned subsidiary of Minda Corporation. This structure allows the parent company to divest its investment while maintaining operational continuity through its subsidiary framework. The subsidiary's 29.5% stake in EVQ Point Solutions represents a significant divestment as part of the company's strategic portfolio optimization efforts.
