Board approves Rs. 500 crore NCD issue, China subsidiary, sale of 29.5% stake in EVQ Point Solutions
NCDs up to Rs. 500 Crores on private placement — 50,000 debentures of Rs. 1,00,000 face value each.
By ScoutQuest · · 2 min read
- NCD Issuance
- Rs. 500 Crores on private placement — 50,000 debentures of Rs. 1,00,000 face value each
- China Subsidiary Investment
- New wholly owned subsidiary in China, investment up to USD 1 Million, 100% held
- EVQ Point Solutions Stake Sale
- 29.5% equity stake held via Spark Minda Green Mobility Systems Private Limited approved for sale
- Company Secretary Appointment
- Ms. Meenal Bansal appointed Company Secretary & Compliance Officer effective 24.09.2026
- Chief Procurement Officer Appointment
- Mrs. Geetika Mishra appointed Chief Procurement Officer effective 24.09.2026
Fund raising
The Board approved raising up to Rs. 500 Crores through Non-Convertible Debentures on a private placement basis, in one or more tranches, for various funding requirements. The structure is 50,000 NCDs of Rs. 1,00,000 face value each. Tenure, coupon, security and listing are to be specified in the key information document / finalised at allotment. NCDs are debt, so this route does not dilute existing shareholders but adds borrowing.
New subsidiary in China
A wholly owned subsidiary is proposed to be incorporated in China in the automotive industry, to explore new business opportunities, products, technologies and partnerships. Minda Corporation will subscribe in cash to 100% of the initial paid-up capital, with proposed investment of up to USD 1 Million. Incorporation requires China government approval.
Sale of investment in EVQ Point Solutions
The Board approved sale of the investment in EVQ Point Solutions Private Limited, a step-down associate, held through wholly owned subsidiary Spark Minda Green Mobility Systems Private Limited, which holds a 29.5% equity stake. In the consolidated financials for FY 2025-26, share of profit includes Rs. 3,95,197 from this entity, indicating a very small contribution. Consideration, buyer details and completion date are to be intimated at the time of execution. The transaction is stated as not a related party transaction.
Senior management changes
- Ms. Meenal Bansal appointed Company Secretary & Compliance Officer (KMP) with effect from 24.09.2026; a qualified Company Secretary and law graduate with over 15 years of experience, earlier with STL Networks Ltd.
- Mrs. Geetika Mishra appointed Chief Procurement Officer (Senior Management Personnel) with effect from 24.09.2026; engineering graduate from NIT Rourkela with over 25 years of experience, most recently Motherson Sumi for 18+ years.
Compliance penalty noted
BSE issued a notice dated August 14, 2026 for a one-day delay in update the shareholding pattern for the quarter ended June 30, 2026, with a penalty of Rs 2000 plus applicable taxes. The Board noted the update was made on time with NSE, treated the BSE delay as inadvertent and procedural without malafide intent, advised timely compliance ahead, and noted the fine has been paid.
What to watch
Terms of the NCD tranches, the final consideration for the EVQ stake sale, and progress on the China subsidiary's incorporation and business plans.
The Board meeting ran from 11:15 A.M. to 12:30 P.M.
Also from Minda Corporation
Share Subscription Agreement executed for proposed 26% equity stake in Agganga Private Limited
14 Oct 2026
Minda Corporation to acquire 26% of Sunsure Solarpark Sixteen for upto Rs. 57.75 lacs
12 Oct 2026
Subsidiary rights issue: 1.8 crore shares acquired for Rs. 18 crore at Rs. 10 face value
5 Oct 2026
More numbers
- NCD issue sizeRs. 500 Crores
- Number of NCDs50,000
- NCD face value eachRs. 1,00,000
- Proposed investment in China WOSUSD 1 Million
- Holding in China WOS100 %
- Stake in EVQ Point Solutions held by WOS29.5%
- Share of profit from EVQ in FY 2025-26 consolidatedRs. 3,95,197
- BSE penalty for delayed updateRs 2000
- Experience of new Company Secretaryover 15 years
- Experience of new Chief Procurement Officerover 25 years
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