Board Meeting5 Nov 2026, 11:01 pm
Minolta Finance to Raise Up to ₹5 Crore via NCDs
AI Summary
Minolta Finance Limited's Board of Directors approved the Unaudited Financial Results for Q2 FY27. The board also approved a proposal to raise funds up to ₹5 Crore (Rupees Five Crore only) through the issuance of secured, unlisted, unrated, redeemable Non-Convertible Debentures (NCDs). The NCDs will have a tenure of 39 months and a coupon rate of 12% per annum. The limited review report highlighted several issues, including unprovided interest expenses, missing ownership documents for investments, and unremitted professional tax. The company also experienced a ransomware cyber-attack on July 3, 2026, compromising financial data.
Key Highlights
- Board approved Q2 FY27 unaudited financial results.
- Company plans to raise up to ₹5 Crore via NCDs.
- NCDs to have a 39-month tenure and 12% coupon rate.
- Auditor's report noted several financial discrepancies.
- Company suffered a ransomware cyber-attack in July 2026.
Price Impact
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