Mahindra & Mahindra Ltd has today executed a Share Purchase Agreement to acquire 7,67,59,301 Equity Shares of Mahindra Aerospace Private Limited, a subsidiary of the Company (“MAPL”) 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.
Mahindra Aerospace Private Limited, a Subsidiary of the Company (“MAPL”) is engaged in the business of research, design, manufacture, operation, assembly, and maintenance of various kinds of aircrafts and aircraft components and aerostructures, directly / through its subsidiaries.
Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1150.20 as compared to the previous close of Rs. 1164.80. The total number of shares traded during the day was 22391 in over 2246 trades.
The stock hit an intraday high of Rs. 1170.00 and intraday low of 1147.75. The net turnover during the day was Rs. 25938122.00.