Mahindra & Mahindra Ltd.

Mahindra & Mahindra’s (M&M’s) subsidiary -- Mahindra Agri Solutions (MASL) has agreed to sell its entire stake aggregating 91.59% of the paid-up Equity Share Capital in Merakisan (MKPL), a subsidiary of MASL, to the founder and promoter of MKPL i.e. Prashant Patil.

Following the sale, MASL's shareholding in MKPL would become Nil, and MKPL would cease to be a subsidiary of MASL and consequently that of the Company. The standalone revenue from operations of MKPL for the year ended March 31, 2022 was Rs. 4.18 crores and after elimination of intercompany transactions with the Mahindra Group, MKPL contributed Rs. 4.18 crores or 0.00464% to the consolidated revenue from operations 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.