Minda Corporation has invested ₹18 crore in its subsidiary Spark Minda-Toyodenso India through a rights issue, reinforcing its financial commitment to the joint venture.

Investment details

The following table summarises the key parameters of the transaction:

The investment was made by Minda Corporation into Spark Minda-Toyodenso India, which operates as a subsidiary of the company. The transaction was structured as a rights issue, a mechanism through which the subsidiary raised funds from its existing shareholder. The acquisition was completed on October 5, 2026, with the consideration paid in cash through normal banking channels at par value.

Subsidiary profile and purpose

Spark Minda-Toyodenso India Private Limited is a joint venture between Minda Corporation and Toyo Denso Co., Ltd., Japan. Incorporated on August 21, 2025, the entity is engaged in the manufacturing and selling of advanced automotive switches. The capital infusion is intended to support the growing operational and capital expenditure requirements of the business.

As of FY26, the subsidiary reported total income of ₹83 lakh for the period from its incorporation date until March 31, 2026. Prior fiscal years are not applicable due to the recent formation of the entity.

Shareholding structure

Minda Corporation holds 60% equity shares in Spark Minda-Toyodenso India. The company acquired an additional 1.8 crore equity shares pursuant to the rights issue in the same ratio. Consequently, there is no change to the ultimate shareholding of Minda Corporation in the subsidiary, which remains at 60%.

Minda Corporation Limited has issued and allotted commercial paper aggregating ₹100 crore, listing the securities on the National Stock Exchange of India on September 29, 2026.

The short-term debt instrument carries a discount rate of 6.6% per annum. The issue features a face value of ₹5,00,000 per security, with redemption scheduled for December 28, 2026.

Issue Details

The company disclosed the specific terms of the allotment in a filing to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

Meenal Bansal, Company Secretary & Compliance Officer, signed the intimation confirming the listing. The transaction was executed through the Spark Minda corporate office in Noida. The securities were listed on the NSE on the date of issue, ensuring immediate tradability for institutional investors.