Board approves Rs. 500 crore NCD issue, China subsidiary, sale of EVQ Point stake and two key appointments
Board approved raising up to Rs. 500 Crores via Non-Convertible Debentures on private placement, in one or more tranches — 50,000 NCDs of Rs. 1,00,000 face value each.
By ScoutQuest · · 2 min read
- NCD Issuance Amount
- Up to Rs. 500 Crores
- NCD Face Value and Quantity
- 50,000 NCDs of Rs. 1,00,000 face value each
- China Subsidiary Investment
- Up to USD 1 Million (100% owned, cash)
- EVQ Point Solutions Stake
- 29.5% equity stake sale via Spark Minda Green Mobility
- BSE Penalty
- Rs 2000 for one-day delay in shareholding pattern update
Debt 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.
- 50,000 Non-Convertible Debentures of face value Rs. 1,00,000 each
- Tenure, coupon, security and listing to be specified in the key information document / at allotment
New subsidiary in China
- Wholly owned subsidiary proposed in China, in the automotive industry
- Purpose: explore new business opportunities, products, technologies and partnerships in China
- Proposed investment up to USD 1 Million, in cash, for 100% of the initial paid-up share capital
- Requires approval from the China Government
Sale of EVQ Point Solutions stake
The Board approved the sale of the investment in EVQ Point Solutions Private Limited, held through wholly owned subsidiary Spark Minda Green Mobility Systems Private Limited.
- Stake held: 29.5% equity, making EVQ a step-down associate
- In the consolidated financial statement for FY 2025-26, share of profit includes Rs. 3,95,197 from this entity
- Consideration, buyer details and completion date will be intimated at execution; not a related party transaction
Key appointments (effective 24.09.2026)
- Ms. Meenal Bansal as Company Secretary & Compliance Officer, designated Key Managerial Personnel. Qualified Company Secretary and law graduate with over 15 years of experience; previously with STL Networks Ltd.
- Mrs. Geetika Mishra as Chief Procurement Officer, designated Senior Management Personnel. Engineering graduate from NIT Rourkela with over 25 years in strategic sourcing and supply chain; earlier with Hero Honda, Maruti Suzuki and Motherson Sumi (18+ years).
Compliance penalty noted
BSE issued a notice for non-compliance with Regulation 31 for a one-day delay in update the shareholding pattern for the quarter ended June 30, 2026, and imposed a penalty of Rs 2000 plus applicable taxes. The Board noted the update was made on time with NSE and the BSE delay was inadvertent and procedural, without malafide or wilful intention, and advised management to ensure timely compliance. The fine has been paid within the prescribed timeline.
How to read this
The NCD approval is an enabling headroom for borrowing rather than a completed raise; the size relative to existing debt determines the impact on leverage and interest cost. The China subsidiary is a small initial outlay aimed at exploring opportunities. The EVQ stake sale involves an associate whose contribution to consolidated share of profit was modest in FY 2025-26. The BSE penalty amount is small and already settled.
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
- Shareholding in China WOS100 %
- Stake held in EVQ Point Solutions29.5%
- Share of profit from EVQ in FY 2025-26 consolidatedRs. 3,95,197
- BSE penaltyRs 2000
- Experience of Ms. Meenal Bansalover 15 years
- Experience of Mrs. Geetika Mishraover 25 years
- Years at Motherson Sumi18+ years
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