Mahindra & Mahindra’s (M&M) step-down subsidiary -- Mahindra First Choice Wheels (MFCWL) has signed a Share Purchase Agreement for acquiring up to 100% of the paid up equity share capital of Fifth Gear Ventures (FGVL), in one or more tranches, for a consideration not exceeding Rs 30.45 crore to be discharged by MFCWL by way of cash and issue of shares of MFCWL. Upon acquisition of the above stake, FGVL would become a subsidiary of MFCWL.
MFCWL is a board controlled subsidiary of Mahindra Holdings (MHL), which is in turn a wholly owned subsidiary of the Company.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
Company Name | CMP |
---|---|
Maruti Suzuki | 12900.00 |
Mahindra & Mahindra | 2055.00 |
Mercury Metals | 82.38 |
Hindustan Motors | 29.12 |
Suzuki (India) | |
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