Mahindra Overseas Subsidiary Amends Stock Purchase Agreement

Mahindra & Mahindra Ltd announced an amendment to a stock purchase agreement involving its wholly owned subsidiary, Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), and its subsidiary Erkunt Traktör Sanayii Anonim Şirketi. The agreement is with Hisarlar Makina Sanayi ve Ticaret A.Ş., Mr. Oguzhan Sahinkaya, and Mr. Bunyamin Sarioglu. While the consideration received by MOICML and Erkunt Traktör remains unchanged at Turkish Lira 1,00,000 (~Rs. 2,13,000), the infusion amount by MOICML has been revised to Turkish Lira 2.26 billion (~Rs. 471 crore). This infusion is for extinguishing external debt and funding the business until the transaction closing, expected by August 15, 2026. The Buyer is also infusing USD 10 million (~Rs. 95 crore). Other details from the April 10, 2026 letter remain unchanged.