Mahindra & Mahindra Ltd.

Mahindra & Mahindra’s (M&M) indirect subsidiary - Mahindra Retail (MRPL), has sold its entire shareholding (100%) in Mahindra Internet Commerce (MICPL). Hence, MICPL has ceased to be a subsidiary of MRPL and as such of the company.

The share purchase agreement for the same was executed on March 22, 2017. The expected date for completion of sale is by April 5, 2017 and MRPL will receive consideration of Rs 14 lakh from sale of its 100% stake.

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.