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BSE SENSEX
73,651.35
+655.04
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Corporate Announcement
Security Code
500520
Company
MAHINDRA & MAHINDRA LTD.
Exchange Received Time
25/02/2021 13:13:46
Exchange Disseminated Time
25/02/2021 13:13:52
Time Taken
00:00:06
Sale Of Subsidiaries - Mahindra First Choice
Services Limited And Auto Digitech Private Limited |
2/25/2021 1:13:47 PM
We refer to our letter dated 26th November, 2020 ('Annexure 1'), informing that Mahindra Holdings
Limited ('MHL') a wholly owned subsidiary of the Company, had on 26th November, 2020 agreed to
sell its entire stake aggregating 100% of the paid-up Equity Share Capital in Mahindra First Choice
Services Limited ('MFCS') for a consideration of Rs. 21.5 crores and its entire stake aggregating 100%
of Optionally Convertible Redeemable Preference Shares in Auto Digitech Private Limited ('ADPL'),
wholly owned subsidiary of MFCS, for a consideration of Rs. 13.5 crores to TVS Automobile Solutions
Private Limited ('TASL').
In this connection, we would like to inform you that, MHL has today, completed the above transaction.
Following the sale, MHL's shareholding in MFCS and ADPL has become 'Nil'.
Consequently, MFCS and ADPL have ceased to be subsidiaries of MHL and of the Company with
effect from 25th February, 2021.
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