Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has signed a Share Subscription & Shareholders Agreement and a Share Purchase Agreement for acquisition of up to 1,296 equity shares and subscribing up to 6,074 Compulsory Convertible Cumulative Preference Shares which on an as-converted to Equity Share basis, would result in the company holding in aggregate 22.9% of the equity share capital of Carnot Technologies, on a fully diluted basis.

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.