Tech Mahindra Ltd.

Tech Mahindra’s wholly owned subsidiary -- Tech Mahindra London (TMLL) has entered into a definitive agreement to acquire Mahindra Racing UK (MRUK) from Mahindra Overseas Investment Company (Mauritius) (MOICML). MOICML is a wholly owned subsidiary of Mahindra & Mahindra (M&M). This deal, executed through a share purchase agreement, involves TMLL acquiring 100 per cent shareholding in MRUK for a cash consideration of GBP 1.2 million (around Rs 13.5 crore).

Upon completion, MRUK will become a wholly owned subsidiary of TMLL and, by extension, of Tech Mahindra. This acquisition is an opportunity to diversify into new business avenues such as sporting events, professional leagues, and data-driven engineering applications, while also enhancing its brand visibility.

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