Mahindra Divests Entire 99.04% Stake in Erkunt Foundry

Mahindra & Mahindra's subsidiaries enter Stock Purchase Agreement to divest entire 99.04% stake in Turkish step-down subsidiary Erkunt Sanayi Anonim Şirketi.
The exit aligns with the company's capital allocation framework and will result in Erkunt Foundry ceasing to be a subsidiary upon completion.
Erkunt Foundry contributed Rs. 771.69 crores (0.49%) to consolidated turnover and Rs. 377.28 crores (0.49%) to consolidated net worth as of March 2025.
Total consideration is Turkish Lira 1,00,000 (~Rs. 2,13,000) post an infusion of Turkish Lira 1.2 billion (~Rs. 256 Crores) for debt extinguishment and funding.