Minda Corporation Acquires Shares in Spark Minda Green Mobility Systems Through Rights Issue
Minda Corporation Limited (MCL) has acquired an additional 2,50,00,000 Equity Shares of its wholly owned subsidiary, Spark Minda Green Mobility Systems Private Limited. The acquisition was completed on July 19, 2026, through a Rights Issue and totaled Rs. 25,00,00,000, which translates to the purchase of shares with a face value of Rs. 10 each.The transaction involved MCL subscribing to the rights issue of Spark Minda Green Mobility Systems Private Limited. The consideration for acquiring these additional equity shares was paid in cash through normal banking channels.
This investment is part of the Company's strategy and aims to maintain its full shareholding and provide growth capital necessary for the subsidiary’s business requirements. MCL views the investment as being in furtherance of the Group's existing business strategy, noting that the wholly owned subsidiary operates in the same line of business as the parent company.
Following the acquisition, Minda Corporation Limited maintained 100% equity shares and control over Spark Minda Green Mobility Systems Private Limited. The company remains a wholly owned subsidiary of MCL.
The primary focus of Spark Minda Green Mobility Systems Private Limited is the design, development, and manufacturing of Electric Vehicles parts and components within the Automotive Parts & Components industry.
Financial Snapshot of Spark Minda Green Mobility Systems Private Limited
| Particulars | Details |
|---|---|
| Status | Wholly owned subsidiary of MCL |
| Industry | Automotive Parts & Components |
| Main Business Object | Design, development and manufacturing of Electric Vehicles parts & components |
| FY 2025-26 Turnover | Rs. 5362.07 Lakhs |
| FY 2024-25 Turnover | Rs. 4053.33 Lakhs |
| FY 2023-24 Turnover | Rs. 3544.12 Lakhs |
MINDACORP Stock Price Movement
As of 11:56 AM, shares of Minda Corporation Limited are slipping by 0.72% in live trading, currently valued at ₹673.45. Throughout the session, the stock has fluctuated between a daily low of ₹672.8 and a high marked at ₹680.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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