M&M subsidiary divests 99.04% stake in Erkunt Foundry for ₹2.13 Lakh

Mahindra & Mahindra Ltd's wholly-owned subsidiary, Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), along with its subsidiary Erkunt Traktör, has entered into an agreement to sell their entire 99.04% stake in Erkunt Sanayi Anonim Şirketi (Erkunt Foundry). The sale is to Hisarlar Makina Sanayi ve Ticaret A.Ş. and its shareholders. This divestment aligns with M&M's capital allocation framework. Erkunt Foundry contributed ₹771.69 crores (0.49%) to M&M's consolidated turnover and ₹377.28 crores (0.49%) to its consolidated net worth in FY25. The consideration for the sale is Turkish Lira 1,00,000 (approx. ₹2,13,000), following an infusion of Turkish Lira 1.2 billion (approx. ₹256 Crores) by MOICML to clear debt and fund operations until closing. The transaction is expected to complete by July 30, 2026.