Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has proposed to acquire 21,14,349 Equity shares constituting 17.41% of the paid up equity share capital of Swaraj Engines (SEL) from Kirloskar Industries (KIL) at a price of Rs 1,400 per share aggregating to around amount of Rs 296 crore. Upon the said acquisition, the Shareholding and consequent voting rights of the company in SEL would increase from 34.72% to 52.13% of the Equity Share Capital of SEL. Consequently, SEL which is currently an Associate of the Company would become a subsidiary of the Company. SEL is in the business of manufacture of Diesel Engines and its components.

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.