Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has signed a Share Purchase Agreement (SPA) for acquiring not more than 21,875 Equity Shares of Rs 10 each at a premium of Rs 3,192.23 per Equity Share from the existing shareholders of M.I.T.R.A. Agro Equipments (MITRA), an Associate of the Company. The shareholding of the company in MITRA would stand increased to 47.33% (on a fully diluted basis) from the present 39.02% (on a fully diluted basis) upon completion of the captioned transaction.

The additional Share Purchase in MITRA would support the company’s Farm Equipment Sector’s growth in the horticulture equipment sector. Post the acquisition of additional equity shares, MITRA would continue to remain an Associate 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.