Date: October 05, 2026
Board Meeting Outcomes
Minda Corporation Limited has acquired additional 1,80,00,000 (One Crore Eighty Lakh) Equity Shares of face value ₹10 each for an aggregate amount of ₹18,00,00,000 (Rupees Eighteen Crore Only) in Spark Minda-Toyodenso India Private Limited, a subsidiary of the company.
The acquisition was completed on October 05, 2026, pursuant to a Rights Issue and does not constitute a related party transaction under the Companies Act, 2013 and SEBI Listing Regulations.
Financial Results (Subsidiary)
Spark Minda-Toyodenso India Private Limited reported:
- Total Income for FY 2025-26: ₹83 lakhs (from August 21, 2025 to March 31, 2026)
- FY 2024-25: Not Applicable (company incorporated in August 2025)
- FY 2023-24: Not Applicable
Disinvestment / Strategic Actions
Target Entity Details:
- Name: Spark Minda-Toyodenso India Private Limited
- Industry: Automotive Parts & Components
- Incorporation Date: August 21, 2025
- Business: Manufacturing and selling of advanced automotive switches and related products
- Joint Venture between Minda Corporation Limited and Toyo Denso Co., Ltd., Japan
Transaction Details:
- Number of shares acquired: 1,80,00,000 equity shares
- Face value: ₹10 per share
- Total consideration: ₹18,00,00,000
- Price per share: ₹10 (at par)
- Payment method: Cash through normal banking channels
- Government approvals: Not Applicable
Shareholding Impact:
- Pre-transaction holding: 60% equity shares
- Post-transaction holding: 60% equity shares (no change in ultimate shareholding)
- The acquisition was made through Rights Issue in the same ratio
Strategic Rationale:
To support the growing operational and capital expenditure requirements of the subsidiary company's business, which is engaged in manufacturing and selling advanced automotive switches.
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified