Mahindra & Mahindra has revised the infusion terms for the divestment of its entire stake in step-down subsidiary Erkunt Traktor Sanayii Anonim Şirketi. The company informed the exchanges on June 30, 2026, that the infusion amount was increased to Turkish Lira 2.26 billion (~₹471 crore) to extinguish external debt and fund the business until the transaction closes. The deal is expected to be completed by August 15, 2026.

The amendment involves Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), a wholly owned subsidiary, and its subsidiary Erkunt Traktor. The buyers are Hisarlar Makina Sanayi ve Ticaret A.Ş., Mr. Oguzhan Sahinkaya, and Mr. Bunyamin Sarioglu. While the consideration to be received by MOICML and Erkunt Traktör remains unchanged at Turkish Lira 1,00,000 (Rs. 2,13,000), the buyers will also infuse USD 10 million (₹95 crore) as part of the revised terms.

The disclosure was made under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Other details provided in the previous letter dated April 10, 2026, remain unchanged. The intimation was uploaded on the company's website and submitted to the National Stock Exchange of India Limited and BSE Limited.

Transaction Details

The following table summarizes the key parties, their roles, and the corresponding consideration or infusion amounts under the revised terms:

The closing of the transaction is anticipated by August 15, 2026. The revised terms were executed to facilitate the extinguishment of external debt and ensure business continuity funding until the deal is finalized.

Mahindra Lifespace Developers Limited has incorporated Mahindra Kandivali Developers Limited as a wholly owned subsidiary to undertake real estate development projects. The new entity was incorporated on June 29, 2026, in Mumbai, Maharashtra, and has become a step-down subsidiary of Mahindra & Mahindra with effect from the same date. The incorporation follows an approval by the Committee for Investment/Land Appraisal on June 25, 2026.

Mahindra Kandivali Developers Limited currently holds an authorised share capital of Rs. 5,00,000 and a paid-up share capital of Rs. 1,00,000. The company subscribed to 10,000 equity shares with a face value of Rs. 10 each, aggregating to Rs. 1,00,000, representing 100% of the equity share capital. The transaction was conducted as a related party transaction involving cash consideration.

Financial and Operational Details

The subsidiary is classified under the real estate sector, specifically building and construction. As a newly incorporated entity, it currently reports nil turnover. The primary object of the company is to undertake the development of projects as may be approved by its Board of Directors.

Regulatory and Governance Disclosures

The intimation was submitted under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. While the promoter and promoter group of Mahindra Lifespace Developers Limited hold no direct interest in the new subsidiary other than indirect equity shareholding held by Mahindra & Mahindra Limited, the transaction was structured at arm's length.

No specific governmental or regulatory approvals were required for the incorporation at this stage. The company stated that requisite approvals, if any, would be obtained as applicable in the future. The details of the acquisition are enclosed as Annexure A and Annexure B to the regulatory filing.