M&M increases stake in Carnot Technologies to 80.72% for ₹6.72 Cr

Mahindra & Mahindra Ltd. (M&M) has acquired an additional 28.03% of the paid-up equity share capital in its subsidiary, Carnot Technologies Private Limited, for approximately ₹6.72 crore. This acquisition increases M&M's total equity holding in Carnot to 80.72% and voting rights to 89%. The transaction, completed via a Share Purchase Agreement, is in line with M&M's strategy to consolidate its position in precision farming and telematics technology. Carnot, which develops internet-connected devices and platforms for vehicle and equipment monitoring, reported a revenue of ₹19.80 crore and a PAT of ₹1.17 crore for FY2026. The deal is expected to be completed by May 2026.