Mahindra & Mahindra Ltd.

Mahindra & Mahindra’s (M&M) step-down wholly owned subsidiary -- Mahindra Renewables (MRPL) has agreed to sell its entire stake aggregating 100% of the paid-up Equity Share Capital in Cleansolar Renewable Energy (CREPL), Divine Solren (DSPL) and Neo Solren (NSPL), wholly owned subsidiaries of MRPL, to CLP India (CLP).

Following the sale, MRPL’s shareholding in CREPL, DSPL, NSPL would come down to Nil, and CREPL, DSPL, NSPL will cease to be the subsidiaries of MRPL and consequently 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.