Mahindra & Mahindra Ltd increases stake in MITRA to 47.335

Mahindra & Mahindra Ltd has today, in exercise of its Call Option under the relevant Shareholders Agreement ("SHA"), has signed a Share Purchase Agreement for acquiring not more than 21,875 Equity Shares of Rs.10 each at a premium of Rs.3,192.23 per Equity Share from the existing shareholders of M.I.T.R.A. Agro Equipments Private Limited ("MITRA"), an Associate of the Company.

The shareholding of the Company in MITRA would stand increased to 47.33% (on a fully diluted basis) from the present 39.02% (on a fully diluted basis) upon completion of the above transaction.

MITRA is an Indian company, which manufactures and sells agricultural sprayers. MITRA operates in the fast-growing horticulture sprayers segment and is among the leading players in the organized segment.

Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 861.75 as compared to the previous close of Rs. 864.00. The total number of shares traded during the day was 34494 in over 1410 trades.

The stock hit an intraday high of Rs. 877.10 and intraday low of 859.95. The net turnover during the day was Rs. 29922521.00.

Source : Equity Bulls

Keywords

MahindraandMahindra INE101A01026 StakeIncrease MITRA