MINDACORPMinda Corporation Ltd
Minda Corporation signs an agreement to take a 26% stake in solar power firm Agganga Energy for up to ₹1.12 crore
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Minda Corporation Limited has told the exchanges that it has signed a share subscription agreement with Avener Green Private Limited and Agganga Energy Private Limited. The company made the disclosure on 14 Oct 2026 under Regulation 30 of the SEBI listing rules.
The company will invest up to ₹112.20 lakh, in cash, and expects to hold 26% of the equity shares of Agganga once the investment is completed. The filing says completion is expected in about six months and that no government or regulatory approval is required. It gives the aim as reducing the company’s power cost by moving towards solar and wind energy, which it calls cost effective and environment friendly.
Agganga is described as being in the business of setting up, operating and maintaining a solar photovoltaic power plant. Its turnover as of 31 Mar 2026 is nil and its profit after tax is ₹0.03 lakh. The transaction is not a related party transaction, and neither the promoter nor the promoter group nor group companies have an interest in the entity.
Inference
The investment is small, at about ₹1.12 crore, and the filing links it to the company’s own electricity costs rather than to a new line of business. Agganga has no turnover yet, so its stake would be an early-stage one.
The filing does not say how much power the plant will supply to the company, or what saving the company expects.
Reference: Original filing (PDF)
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