Minda Corporation Files Regulatory Intimation for Joint Venture with UK's Turntide
Minda Corporation has officially filed regulatory compliance documents with NSE and BSE regarding its subsidiary's joint venture agreement with Turntide Drives Limited, UK. The partnership, formalized on March 09, 2026, establishes a 49:51 shareholding structure to develop and manufacture advanced motor controllers, axial flux motors, and thermal solutions for India's expanding EV segment.
*this image is generated using AI for illustrative purposes only.
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.
| Exchange: | Scrip Code |
|---|---|
| National Stock Exchange: | MINDACORP |
| BSE Limited: | 538962 |
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 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.47% | -10.42% | -14.82% | -1.26% | -4.17% | +403.95% |
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