Intimation of signing of Joint Venture Agreement by Minda Corporation Limited with Toyodenso Co. Ltd., Japan in accordance with Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") and Press Release
MINDACORP · price
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Minda Corporation Limited (MINDACORP) has signed a Joint Venture Agreement with Japan's Toyodenso Co. Ltd. on June 11, 2025, to manufacture and sell advanced automotive switches in India. The new JV company will be a majority-owned entity with Minda Corp holding 60% and Toyodenso holding 40%. A greenfield plant will be set up in Noida, Uttar Pradesh, with operations expected to begin in the second half of FY 2026-27. The JV will serve two-wheelers, passenger cars, and other automotive segments, and Toyodenso will contribute proprietary technology and engineering know-how. Notably, the JV has already secured initial orders from customers in India. This is not a related party transaction.
This is a positive strategic development for shareholders. Partnering with Toyodenso, a reputed Japanese supplier to Honda, Toyota, and Suzuki, brings advanced technology and global credibility, while Minda Corp gains from localisation strengths and existing customer relationships. Pre-launch customer orders signal revenue visibility, likely supporting a positive short-term stock sentiment.