Mahindra Agri Solutions Ltd to sell its stake in Merakisan Pvt Ltd

Mahindra Agri Solutions Limited ("MASL") a subsidiary of Mahindra & Mahindra Ltd, has today agreed to sell its entire stake aggregating 91.59% of the paid-up Equity Share Capital in Merakisan Private Limited ("MKPL"), a subsidiary of MASL, to Mr. Prashant Patil.

Following the sale, MASL's shareholding in MKPL would become Nil, and MKPL would cease to be a subsidiary of MASL and consequently that of the Company.

The standalone revenue from operations of MKPL for the year ended 31st March, 2022 was Rs. 4.18 crores and after elimination of intercompany transactions with the Mahindra Group, MKPL contributed Rs. 4.18 crores or 0.00464% to the consolidated revenue from operations of the Company.

The standalone net worth of MKPL as on 31st March 2022 was negative Rs. 0.33 crores and after elimination of inter-company balances with the Mahindra Group, MKPL contributed negative Rs. 0.33 crores or negative 0.00001% of the consolidated net worth of the Company.

Source : Equity Bulls

Keywords

MahindraAgriSolutions StakeSale Subsidiary Merakisan MahindraandMahindra