The company has issued 2000 Commercial Papers of Rs.500000/- each aggregating to Rs.100 Crores
MINDACORP · price
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Awaiting price reaction for this filing.
Minda Corporation has raised Rs. 100 crores by issuing 2,000 Commercial Papers with a face value of Rs. 5 lakh each. The papers were issued on June 24, 2025 and will mature on September 12, 2025, making this a short-term borrowing of roughly 80 days. The discount rate is 6.35% per annum, and the instrument (ISIN: INE842C14149) has been listed on the NSE. This is a standard short-term funding activity, typically used to meet working capital needs.
This is a routine short-term debt raise to fund working capital and is unlikely to materially affect shareholders or the stock price. The cost of borrowing at 6.35% is reasonable and reflects normal market rates.