Board approves Rs 500cr NCD issue, China WOS, new CS and CPO
MINDACORP · price
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Minda Corp board approved raising up to Rs 500 crore via Non-Convertible Debentures on private placement basis. Board also approved incorporating a wholly owned subsidiary in China with USD 1 million investment to explore automotive business opportunities. Approved sale of 29.5 percent stake in EVQ Point Solutions via Spark Minda Green Mobility. Appointed Ms. Meenal Bansal as Company Secretary and Compliance Officer, and Mrs. Geetika Mishra as Chief Procurement Officer. Board noted BSE penalty of Rs 2,000 for a one day delay in filing shareholding pattern, which has already been paid.
Debt raise of Rs 500cr and China subsidiary signal growth plans; minor compliance penalty paid. New senior hires strengthen management team.