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.

Minda Corporation has approved the issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹500 crore on a private placement basis. The board also greenlit the incorporation of a wholly owned subsidiary in China and the sale of its stake in EVQ Point Solutions Private Limited.

The board meeting held on September 24, 2026, authorised the raising of funds through 50,000 NCDs of face value ₹1 lakh each. The issuance may occur in one or more tranches to meet various funding requirements. Details regarding tenure, coupon rate, and security charges will be specified in the key information document at the time of allotment.

Strategic Expansion in China

The Board approved the incorporation of a new wholly owned subsidiary in China with a proposed investment of up to $1 million. This entity will operate within the automotive industry, aiming to explore new business opportunities, products, technologies, and partnerships in the Chinese market. Minda Corporation will subscribe to 100% of the initial paid-up share capital via cash consideration.

Portfolio Rationalisation

The company also approved the sale of its investment in EVQ Point Solutions Private Limited through its wholly owned subsidiary, Spark Minda Green Mobility Systems Private Limited. Spark Minda currently holds a 29.5% equity stake in EVQ Point Solutions, which is a step-down associate company. The final consideration for this sale will be intimated upon execution of the agreement.

Management Appointments

Two key managerial positions were filled effective September 24, 2026:

• Ms. Meenal Bansal was appointed as Company Secretary and Compliance Officer. She brings over 15 years of experience in company secretarial and legal domains, having previously headed compliance at STL Networks Ltd.
• Mrs. Geetika Mishra was appointed as Chief Procurement Officer. She holds over 25 years of experience in strategic sourcing and supply chain governance, with prior roles at Motherson Sumi, Maruti Suzuki, and Hero Honda.

Regulatory Compliance Update

The Board noted a penalty of ₹2,000 plus applicable taxes imposed by BSE for a one-day delay in filing the shareholding pattern for the quarter ended June 30, 2026. The delay was attributed to an inadvertent procedural gap, as the filing was timely submitted to the National Stock Exchange. The fine has been paid, and the Board advised management to ensure strict future compliance.