Minda Corporation Limited has officially incorporated its joint venture entity 'Spark Minda Turntide Private Limited' on April 11, 2026, marking a significant step in the company's expansion into India's electric vehicle powertrain market. The incorporation was completed under the provisions of the Companies Act, 2013, following the joint venture agreement signed on March 9, 2026.

Joint Venture Structure and Shareholding

The partnership involves Spark Minda Green Mobility Systems Private Limited (SMGM), a wholly owned subsidiary of Minda Corporation Limited, and Turntide Drives Limited, United Kingdom. The shareholding structure reflects Turntide's majority control with strategic Indian manufacturing capabilities.

Product Portfolio and Market Focus

The joint venture will concentrate on developing and manufacturing advanced powertrain solutions specifically tailored for India's expanding electric vehicle segment. The product range encompasses multiple critical components for EV applications.

Key Products:

• Advanced new generation motor controllers
• Axial flux motors
• Pumps for thermal applications
• Customized controllers for EV applications

Governance and Operational Framework

The joint venture incorporates specific governance structures and operational restrictions designed to ensure balanced control and technology transfer. The board composition reflects the shareholding arrangement while maintaining strategic oversight.

Strategic Objectives and Market Positioning

According to the press release, this partnership aims to leverage Turntide's globally proven technology with Minda Corporation's strong local presence in the Indian automotive market. The venture supports India's transition to sustainable mobility while meeting 'Make in India' objectives and enhancing the domestic EV supply chain resilience.

Mr. Ashok Minda, Chairman and Group CEO of Minda Corporation Limited, emphasized that the partnership marks a significant milestone in the company's electrification journey. The collaboration is designed to deliver advanced, high-quality, and cost-competitive EV powertrain solutions for India's rapidly evolving mobility ecosystem.

Regulatory Compliance and Documentation

The incorporation follows proper regulatory disclosure procedures under SEBI Listing Regulations. Minda Corporation has maintained transparency by providing detailed information about the joint venture structure, shareholding arrangements, and operational framework to stock exchanges and stakeholders through formal intimations dated March 9, 2026, and April 13, 2026.

Minda Corporation Limited has submitted its quarterly compliance certificate under SEBI regulations for the fourth quarter of fiscal year 2026. The certificate was filed with both the National Stock Exchange of India and BSE Limited on April 09, 2026.

Regulatory Compliance Certificate

The company filed a certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. This regulatory requirement ensures transparency in the dematerialization process of securities.

Certificate Confirmation

Skyline Financial Services Private Limited, serving as the company's Registrar and Share Transfer Agent, issued the confirmation certificate dated April 01, 2026. The certificate confirms that no physical share certificates were received for dematerialization of equity shares during the quarter ended March 31, 2026.

Parveen Sharma, Authorised Signatory of Skyline Financial Services Private Limited, signed the certificate confirming compliance with the regulatory requirements.

Corporate Information

The filing was submitted by Company Secretary Pardeep Mann (Membership No. A13371) on behalf of Minda Corporation Limited. The company maintains its group corporate office at D-6-11, Sector 59, Noida – 201301, U.P., with its registered office located at A-15, Ashok Vihar, Phase-I, Delhi-110052.

This quarterly filing demonstrates the company's continued adherence to SEBI's regulatory framework governing depositories and participants, ensuring proper oversight of share dematerialization processes.