Mahindra & Mahindra Ltd.
BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3129.15
43.90 (1.42%) Mahindra & Mahindra informs about updates on acquisition
Date: 18-03-2023Mahindra & Mahindra has informed that the Company had served: A Call Option Notice upon the other existing shareholders of M.I.T.R.A. Agro Equipments, an Associate of the Company (MITRA) for purchase of 1,29,619 equity shares of Rs. 10 each of MITRA pursuant to exercise of a call option available to the Company under the relevant Shareholders’ Agreement; and A Notice of participation upon the prospective shareholders of MITRA, being holders of MITRA’s employee stock options (ESOP Holders) who would be issued equity shares of MITRA upon exercise of stock options, for purchase of 8,970* equity shares of Rs.10 each of MITRA aggregating 1,38,589* Equity Shares of Rs 10 each of MITRA, which constitutes 52.67% of the paid-up capital of MITRA on a fully diluted basis. (*subject to exercise of employee stock options by ESOP Holders). In this connection, the company updated that it has today completed the acquisition at a consideration of Rs 61.71 Crores.
The above information is a part of company’s filings submitted to BSE.