Board Meeting24 Sept 2026, 10:18 pm
Minda Corp Approves ₹500 Cr NCD Issue, China Subsidiary
AI Summary
Minda Corporation's Board of Directors has approved a significant fundraising initiative through the issuance of Non-Convertible Debentures (NCDs) aggregating up to ₹500 crore. This move aims to support various funding requirements. Additionally, the company will establish a wholly-owned subsidiary in China with an investment of up to USD 1 million. The Board also approved the sale of its investment in EVQ Point Solutions Pvt. Ltd. and appointed Ms. Meenal Bansal as Company Secretary & Compliance Officer and Mrs. Geetika Mishra as Chief Procurement Officer. The company also noted a minor penalty for a one-day delay in filing its shareholding pattern with BSE.
Key Highlights
- Board approves ₹500 crore NCD issuance via private placement.
- Company to establish a wholly-owned subsidiary in China.
- Investment in EVQ Point Solutions Pvt. Ltd. to be divested.
- New appointments: Company Secretary and Chief Procurement Officer.
- Minor penalty noted for delayed shareholding pattern filing with BSE.
Price Impact
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