The said funds would be raised by way of issuance of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or any of the permissible modes, in one or more tranches.

Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan-India presence and significant international footprint.

The company's consolidated net profit rose 60.74% to Rs 121.94 crore on a 13.38% increase in sales to Rs 1074.55 crore in Q4 FY23 over Q4 FY22.

The scrip jumped 5.41% to currently trade at Rs 298.35 on the BSE.