Summary of Key Information:

Acquirer / Seller / Promoter: Minda Corporation Limited

Target Company: Sunsure Solarpark Sixteen Private Limited

Stock Exchange Listings:

NSE Scrip Code: MINDACORP

BSE Scrip Code: 538962

Nature of Transaction / Event: Shareholding acquisition through Share Subscription Agreement

Date of Transaction: 12/10/2026 (Date of agreement execution)

Number of Shares Affected: Not explicitly specified

% of Total Shareholding / Voting Capital Affected: 26% equity stake

Mode of Transaction / Action: Share Subscription Agreement

Consideration (if disclosed): Up to ₹57.75 lakhs (cash consideration)

Shareholding / Promoter Snapshot (Before & After):

Before Transaction / Event:

  • Shares Held: 0
  • % of Total Capital: 0%

After Transaction / Event:

  • Shares Held: 26% equity stake
  • % of Total Capital: 26%

Target Company Details:

  • Business: Setting up ground mounted, grid connected solar electric generating facility
  • Incorporation Year: 2026
  • Country of Presence: India

Financial Performance of Target Company:

  • Turnover (31.03.2026): ₹963.75 lakhs
  • Profit After Tax (31.03.2026): ₹(8.88) lakhs (loss)
  • Previous Turnovers:
  • 2024-25: ₹716.20 lakhs
  • 2023-24: Not Applicable

Transaction Details:

  • Not a Related Party Transaction
  • No promoter/promoter group/group companies have any interest
  • Industry: Renewable Energy
  • Purpose: To reduce power cost by shifting towards solar and wind power energy
  • Governmental/Regulatory Approvals: Not Applicable
  • Expected Completion Time: Approximately 6 months
  • Consideration Type: Cash

Regulatory Compliance:

  • Filed pursuant to Regulation 30 read with Para B of Part A of Schedule III of SEBI Listing Regulations, 2015
  • Digitally signed by Meenal Bansal, Company Secretary (Membership No. A35091)

Additional Information:

  • Information available on company website: www.sparkminda.com
  • Company CIN: L74899DL1985PLC020401

Analyst Notes:

The acquisition represents a strategic move by Minda Corporation to diversify into renewable energy for cost reduction purposes. The target company shows growing turnover but reported a net loss in the most recent fiscal year.