Mahindra & Mahindra executed a Share Purchase Agreement to acquire an additional 28.03% equity stake in its subsidiary Carnot Technologies for ~₹6.72 crore.
Post-acquisition, Mahindra's equity holding in Carnot will increase to 80.72%, with total voting rights rising to 89% from the current 73%.
Carnot, a precision farming and telematics tech firm, reported FY26 revenue of ₹19.80 crore and a PAT of ₹1.17 crore.
The transaction is classified as a Related Party Transaction but is stated to be conducted on an arm's length basis.