Minda Corp to raise up to Rs 1,000 crore; board OKs issue of shares, convertible securities; stock up

Minda Corp has not disclosed how it intends to deploy the capital after raising the funds.

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26 Aug, 2025 12:21

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Auto components manufacturer Minda Corp Ltd has received board approval to raise up to Rs 1,000 crore through the issuance of new securities. The decision, taken at the board meeting on Thursday, 12 September, allows for multiple potential routes for fundraising, including a preferential allotment of shares, or a Qualified Institutional Placement (QIP), or a combination of both.

Other public or private offerings have also been kept open as possible options. The company also has the option to issue securities convertible into shares.

Minda Corp has not disclosed how it intends to deploy the capital after raising the funds. The proposed fundraising is subject to approval from the company's shareholders and relevant regulatory authorities.

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As of the end of the June quarter, Minda Corp promoters held a 64.84 percent stake in the company. Earlier this year, Minda Corp sold its entire 15.07 percent stake in Pricol Ltd, an automotive components maker, for approximately Rs 631 crore, reportedly netting a gain of around Rs 300 crore from the investment.

Minda Corp shares rose, adding to the morning gains, after the announcement. At about 1.30 pm, Minda Corp stock was trading at Rs 537.7 on NSE, up 1.25 percent from the previous close. The stock has jumped about 40 percent since January this year, outperforming NSE Nifty 50, which has gained 15 percent.

Minda Corp has a market capitalisation of about 12,850 crore, with a paid up capital of Rs 47.82 crore (shares of face value of Rs 2 each). The stock has seen a steady rise in FII holdings over the last three quarters.

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