Minda Corporation Ltd. has approved raising up to Rs 500 crore through issuance of Non-Convertible Debentures (NCDs) on a private placement basis, according to a regulatory filing on the exchanges on Thursday.
The NCDs will be issued in one or more tranches, for various funding requirements, from time to time, the filing added.
"The Board of Directors have accorded its approval for raising funds of up to Rs 500 Crore (Rupees Five Hundred Crore Only) through issuance of Non-Convertible Debentures on a private placement basis, in one or more tranches, for various funding requirements, from time to time," the filing stated.
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Additionally, the company has also approved the incorporation of a wholly owned subsidiary in China with a proposed investment of up to $1 million, along with some key managerial appointments and the sale of investment held in EVQ Point Solutions Private Ltd. through a wholly-owned subsidiary.
Minda Corp Q1 FY27
Minda Corporation Ltd. announced its April-June quarter results for fiscal 2026-27 (Q1FY27) on Thursday, Aug. 13, reporting robust earnings, backed by double-digit revenue growth and a significant exceptional gain.
Spark Minda's flagship company's net profit surged to Rs 206 crore in the first quarter of the current fiscal year, marking a massive jump compared to Rs 65.3 crore in the corresponding period last year. The bottom-line growth was significantly bolstered by a one-time gain of Rs 124 crore reported by the leading automotive component manufacturer during the quarter under review.
Share Price
Shares of Minda Corp traded over 1% lower at Rs 681.90 on the BSE on Thursday.
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