Minda Corporation Limited has successfully completed the redemption of its Commercial Paper worth Rs 100 crores, confirming the payment process on the revised maturity date of March 18, 2026. The company had earlier revised the original maturity date due to a bank holiday.

Commercial Paper Redemption Confirmation

The company officially confirmed to both National Stock Exchange and BSE Limited that the Commercial Paper with ISIN INE842C14198, originally issued on December 22, 2025, has been fully redeemed with payment completed on March 18, 2026. This confirmation was communicated in compliance with SEBI circular Number SEBI/HO/DDHS/P/CIR/2021/613 dated April 13, 2022.

Revised Timeline Implementation

The successful redemption followed the company's earlier decision to revise the maturity date from March 19, 2026, to March 18, 2026, due to Gudhi Padwa bank holiday. The revision was made in accordance with FIMMDA guidelines to ensure smooth settlement without any disruptions.

Regulatory Compliance

The redemption process was completed under strict adherence to SEBI regulations, with the company fulfilling all compliance requirements. The confirmation was digitally signed by Pardeep Mann, Company Secretary (Membership No. A13371), ensuring proper documentation and regulatory transparency.

Corporate Communication

Minda Corporation maintained transparent communication throughout the process, first informing exchanges about the date revision due to the bank holiday, and subsequently confirming the successful completion of redemption. This demonstrates the company's commitment to regulatory compliance and stakeholder communication.

Minda Corporation Limited successfully concluded its postal ballot process on March 16, 2026, with shareholders demonstrating strong support for the company's Employee Stock Option Scheme initiatives. The company announced the results of e-voting for four special resolutions, all of which received the requisite majority approval from shareholders.

Postal Ballot Process and Timeline

The postal ballot notice was dispatched to shareholders on February 12, 2026, following the board resolution passed on February 05, 2026. The e-voting period commenced on February 14, 2026, at 9:00 AM IST and concluded on March 15, 2026, at 5:00 PM IST. The voting process was conducted entirely through electronic means, with National Securities Depository Limited (NSDL) serving as the e-voting service provider.

Resolution Details and Voting Results

Shareholders voted on four special resolutions, all related to Employee Stock Option Schemes. The voting participation was robust, with 90.3767% of outstanding shares participating in the e-voting process across all resolutions.

Resolution 1: Amendment of Existing ESOP Scheme

The first resolution sought approval for amending the Employee Stock Option Scheme 2017 and transferring unallocated equity shares to the new Minda Employee Stock Option Scheme 2025. This resolution received the highest approval rate among all four resolutions.

Resolution 2: New ESOP 2025 Scheme

The second resolution focused on considering and approving the new Minda Employee Stock Option Scheme 2025. Despite facing relatively higher opposition compared to the first resolution, it still achieved substantial majority approval.

Resolution 3: ESOP for Subsidiary Companies

The third resolution addressed granting Employee Stock Options to employees of subsidiary companies under the Minda Employee Stock Option Scheme 2025. The voting pattern closely mirrored that of Resolution 2.

Resolution 4: ESOP for Group and Associate Companies

The fourth resolution sought approval for granting Employee Stock Options to employees of group companies, including associate companies, under the new scheme. While it received the lowest approval percentage among the four resolutions, it still achieved a comfortable majority.

Shareholder Category Analysis

The voting results revealed strong support from the promoter and promoter group, who voted 100% in favour of all four resolutions. Public institutional investors showed varying levels of support across the resolutions, while public non-institutional investors demonstrated mixed voting patterns, particularly for the later resolutions.

Scrutinizer's Certification

Biswajit Ghosh, Designated Partner of BMP & Co. LLP, served as the scrutinizer for the postal ballot process. The scrutinizer's report confirmed that all four resolutions were passed with the requisite majority, and the voting process was conducted in a fair and transparent manner. The results and scrutinizer's report are available on the company's website at www.sparkminda.com .