Minda Corporation Revises Commercial Paper Maturity Date Due to Bank Holiday

1 min read     Updated on 13 Mar 2026, 08:16 PM
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Reviewed by
Radhika SScanX News Team
Overview

Minda Corporation Limited has revised the maturity and record dates for its Commercial Paper (ISIN: INE842C14198) due to the Gudhi Padwa bank holiday on March 19, 2026. The maturity date has been moved to March 18, 2026, and the record date to March 17, 2026, following FIMMDA guidelines for bank holiday adjustments.

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Minda Corporation Limited has announced a revision in the maturity and record dates for its Commercial Paper due to a bank holiday falling on the originally scheduled redemption date. The company communicated this change to the National Stock Exchange and BSE Limited on March 13, 2026.

Reason for Date Revision

The revision stems from a bank holiday on March 19, 2026, on account of Gudhi Padwa. According to FIMMDA guidelines, when a bank holiday occurs on the scheduled maturity date, the Commercial Paper redemption must be completed one working day prior to avoid any settlement issues.

Revised Commercial Paper Details

The updated information for the Commercial Paper is as follows:

Parameter: Original Schedule Revised Schedule
ISIN Number: INE842C14198 INE842C14198
Maturity Date: March 19, 2026 March 18, 2026
Record Date: March 18, 2026 March 17, 2026
Purpose: Redemption of Commercial Paper Redemption of Commercial Paper

Regulatory Compliance

This revision has been made in accordance with SEBI Circular No. SEBI/HO/DDHS/PoD1/P/CIR/2024/54 dated May 22, 2024. The company had previously communicated the original dates through an intimation letter dated February 24, 2026.

Company Information

The communication was signed by Pardeep Mann, Company Secretary (Membership No. A13371), on behalf of Minda Corporation Limited. The company operates from its Group Corporate Office located at D-6-11, Sector 59, Noida, with its registered office at A-15, Ashok Vihar, Phase-I, Delhi.

Historical Stock Returns for Minda Corporation

1 Day5 Days1 Month6 Months1 Year5 Years
+1.71%-3.49%-16.69%-7.97%-4.99%+401.13%

Minda Corporation Files Regulatory Intimation for Joint Venture with UK's Turntide

2 min read     Updated on 10 Mar 2026, 05:46 AM
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Reviewed by
Naman SScanX News Team
Overview

Minda Corporation has filed regulatory intimation regarding a joint venture agreement between its subsidiary Spark Minda Green Mobility Systems and UK-based Turntide Drives Limited. The partnership will establish a new entity in India with 49% SMGM and 51% Turntide shareholding to develop advanced motor controllers, electric motors, and thermal solutions for the EV market. The collaboration aims to support India's electrification goals while leveraging Turntide's technology and Minda's local expertise.

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Minda Corporation has officially filed regulatory intimation with stock exchanges regarding the joint venture agreement signed by its wholly owned subsidiary, Spark Minda Green Mobility Systems Private Limited, with Turntide Drives Limited, United Kingdom on March 09, 2026. The partnership aims to develop and manufacture advanced motor controllers and electric vehicle solutions specifically tailored for India's rapidly growing EV segment.

Regulatory Compliance and Filing Details

The company has submitted the intimation to both NSE and BSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal agreement was executed on March 09, 2026, marking a significant milestone in the company's electrification strategy.

Joint Venture Structure and Shareholding

The strategic alliance will be operational through a new joint venture entity to be incorporated in India. The shareholding structure has been clearly defined with specific ownership percentages and governance framework for both partners.

Parameter: Details
SMGM Shareholding: 49%
Turntide Shareholding: 51%
Lock-in Period: 3 years
Board Composition: 5 Directors (2 from SMGM, 3 from Turntide)
Agreement Date: March 09, 2026

Product Portfolio and Technology Focus

The joint venture will concentrate on developing cutting-edge solutions for the electric vehicle ecosystem. The collaboration encompasses multiple product categories essential for EV powertrain systems, with Turntide providing proprietary technologies and technical know-how.

Product Category: Description
Motor Controllers: Advanced new generation high and low-voltage controllers
Electric Motors: High-voltage and high-performance axial flux motors
Thermal Solutions: Pumps for thermal applications
Custom Controllers: Tailored solutions for India's EV segment

Strategic Partnership Benefits and Market Impact

According to Mr. Ashok Minda, Chairman and Group CEO of Minda Corporation Limited, this partnership marks a significant milestone in the company's electrification journey. The venture aims to support India's transition to sustainable mobility while meeting 'Make in India' objectives and enhancing the resilience of the domestic EV supply chain ecosystem. Mr. Steve Hornyak, CEO of Turntide Technologies, emphasized that India's electrification growth story is central to Turntide's strategy, making this joint venture a key step in bringing powertrain technologies closer to the Indian market. The collaboration leverages Turntide's globally proven technology with Minda Corporation's strong local presence to deliver localized, premium products suited to domestic requirements while meeting OEMs' stringent performance and quality requirements.

Historical Stock Returns for Minda Corporation

1 Day5 Days1 Month6 Months1 Year5 Years
+1.71%-3.49%-16.69%-7.97%-4.99%+401.13%

More News on Minda Corporation

1 Year Returns:-4.99%