Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has executed a Share Purchase Agreement to acquire 7,67,59,301 Equity Shares of Mahindra Aerospace (MAPL), a subsidiary of the company from the other shareholders of MAPL.

Upon completion of the said transaction, the shareholding of the company in MAPL would increase from 91.59% to 100% of the Equity Share Capital of MAPL. Consequently, MAPL would become a wholly owned subsidiary of the company. Acquisition of stake would result in MAPL becoming a wholly owned subsidiary of the Company, thereby enabling ease of identification and implementation of complementary, synergistic and growth initiatives with Group while providing an exit to the minority shareholders.

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.