The company said Mahindra Defence Systems Ltd will sell its entire stake in Mahindra Emirates Vehicle Armouring FZ LLC and Mahindra Telephonics Integrated Systems to Mahindra Advanced Technologies. Mahindra & Mahindra will also transfer its entire stake in MDSL to MATL.
All agreements were signed on June 25, with the transactions expected to close by September 23.
Post-transaction, MEVA and MTISL will become direct subsidiaries of MATL, while MDSL will become an indirect subsidiary of Mahindra & Mahindra through MATL. MEVA’s subsidiary, Mahindra Armored Vehicles Jordan LLC, will also shift under MATL’s ownership.
MEVA reported operational revenue of ₹90.09 crore for FY25, contributing 0.06% to the group’s consolidated turnover. MTISL and MDSL contributed 0.04% and 0.60%, respectively.
The sale of MEVA was valued at ₹33.66 crore, MTISL at ₹4.53 crore, while MDSL’s transfer was executed through a non-cash share swap, valuing the unit at ₹1,218.16 crore.
All parties involved – MDSL, MEVA, MTISL, and MATL – are related entities under Mahindra Group.
The changes are part of an internal realignment and do not form part of any court-approved Scheme of Arrangement, the company added.
