Mahindra & Mahindra Limited's shareholding in its subsidiary Mahindra Electric Automobile Limited (MEAL) has been diluted from 99.99% to 92.45% following the conversion of Compulsorily Convertible Preference Shares (CCPS) held by investors. The company received an intimation from MEAL on 1 May 2026 at 09:50 a.m. regarding the allotment of equity shares pursuant to this conversion.

Conversion Details

The conversion involved three investors who held CCPS of Rs. 1,000 each in MEAL. The CCPS have converted at a value of Rs. 40,425 crore, resulting in the allotment of equity shares with a face value of Rs. 10 each to the investors.

Background and Impact

The investment in MEAL by the company, along with BII Plc, BII India, and Temasek, was previously communicated through letters dated 7 July 2022, 3 August 2023, 16 May 2024, and 30 December 2024. The conversion mechanism was agreed upon with these investors as part of the investment arrangement.

Following the conversion, Mahindra & Mahindra's shareholding in MEAL stands diluted from the existing 99.99% to 92.45% of the paid-up share capital of MEAL. However, the company confirmed that MEAL would continue to remain its subsidiary despite the reduction in shareholding percentage. The intimation has been uploaded on the company's website.

Mahindra & Mahindra Limited has officially launched a comprehensive 100-day campaign called 'Saksham Niveshak' to help shareholders update their KYC details and claim unpaid dividends. The initiative follows a directive from the Investor Education and Protection Fund Authority (IEPFA) and Ministry of Corporate Affairs (MCA) dated March 27, 2026.

Campaign Details and Timeline

The company published newspaper advertisements on April 29, 2026, in Business Standard (English) and Sakal (Marathi), Mumbai editions, to inform shareholders about this important initiative. The campaign officially runs from April 1, 2026, to July 9, 2026, providing shareholders with a structured timeframe to complete their compliance requirements.

Submission Process and Requirements

Shareholders are required to submit duly filled forms and KYC documents through multiple channels. The company has designated KFin Technologies Ltd. as the Registrar and Share Transfer Agent (RTA) for processing these submissions. Shareholders can submit their documents via email at einward.ris@kfintech.com or at KFin's Hyderabad office. Alternatively, documents can be sent directly to the company at investors@mahindra.com .

For shareholders holding shares in dematerialized form, the process differs slightly. These shareholders must contact their respective Depository Participants (DP) to update their KYC information rather than submitting directly to the company or its RTA.

Dividend Recovery and Information Access

The campaign specifically targets shareholders whose dividends have been transferred to the Unpaid Dividend Account. Complete details of such shareholders are available on the company's official website at www.mahindra.com . This transparency allows affected shareholders to easily verify their status and take appropriate action.

Regulatory Compliance and Documentation

The initiative represents Mahindra & Mahindra's compliance with regulatory requirements aimed at protecting investor interests. The company secretary, Sailesh Kumar Daga (FCS: 4164), signed the official communication on April 29, 2026, confirming the company's commitment to the campaign. The notification was sent to both National Stock Exchange of India Limited and BSE Limited, along with international exchanges including Luxembourg Stock Exchange and London Stock Exchange Plc.

Importance of Timely Action

Shareholders are strongly urged to complete the KYC update process before the July 9, 2026 deadline. Failure to comply within the specified timeframe may result in the transfer of shares and dividends to IEPFA, making the recovery process more complex and time-consuming for shareholders.