Acquisitions25 Jun 2025, 05:51 pm
Mahindra & Mahindra Ltd. Announces Major Subsidiary Transactions
AI Summary
Mahindra & Mahindra Ltd. has executed Share Purchase Agreements (SPAs) to sell its entire stake in Mahindra Defence Systems Limited (MDSL), Mahindra Advanced Technologies Limited (MATL), Mahindra Emirates Vehicle Armouring FZ LLC (MEVA), and Mahindra Telephonics Integrated Systems Limited (MTISL). Post-completion, MTISL and MEVA will become subsidiaries of MATL, while MDSL will become a step-down wholly owned subsidiary of the Company through MATL. The transactions involve the sale of MTISL, MEVA, and MDSL for consideration of Rs. 33.66 crores, Rs. 4.53 crores, and non-cash consideration, respectively.
Key Highlights
- Mahindra & Mahindra Ltd. sells its entire stake in MDSL, MEVA, and MTISL to MATL.
- Post-completion, MTISL and MEVA will become subsidiaries of MATL, while MDSL will become a step-down wholly owned subsidiary of the Company through MATL.
- The total consideration for the sale of MTISL, MEVA, and MDSL is Rs. 33.66 crores, Rs. 4.53 crores, and non-cash consideration, respectively.
- MEVA contributed 0.06% to the consolidated turnover of the Company for the year ended 31st March, 2025.
- MTISL contributed 0.04% to the consolidated turnover of the Company for the year ended 31st March, 2025.