M&M incorporates Novavayu Aerospace, a step-down subsidiary

Mahindra & Mahindra Ltd (M&M) announced the incorporation of Novavayu Aerospace Limited (NAL) on July 29, 2026. NAL is a wholly-owned step-down subsidiary of M&M, incorporated in India with its registered office in Mumbai. Operating in the Defence Industry, NAL will focus on the manufacture of aircrafts, aerospace products, and related services. The new entity has an authorized capital of ₹1 crore, divided into 10,00,000 equity shares of ₹10 each. Mahindra Defence Systems Limited (MDSL), a wholly-owned subsidiary of M&M, along with its nominee, has subscribed to 1,00,000 equity shares aggregating to ₹10 lakh.