Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has signed a Share Subscription Agreement (SSA) on January 30, 2018, for subscribing up to 26% of the share capital of M.I.T.R.A. Agro Equipments (MITRA), engaged in manufacturing and selling agricultural sprayers.

The acquisition would be completed by February 2018. The acquisition would be in cash for which the company would pay around Rs 8 crore.  MITRA would support M&M’s farm equipment sector’s growth in horticulture applications in India by adding new product line.

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.