Nature of Update
This is an intimation under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the incorporation of a new step-down subsidiary.
Key Operational or Strategic Points
Target Entity: Novavayu Aerospace Limited (NAL)
Incorporation Details:
- Incorporated on 29th July 2026
- Registered office in Mumbai, Maharashtra
- Certificate of Incorporation received from Ministry of Corporate Affairs on 30th July 2026 at 12:42 a.m.
Ownership Structure:
- NAL is a wholly owned subsidiary of Mahindra Defence Systems Limited (MDSL)
- MDSL is a wholly owned subsidiary of Mahindra Advanced Technologies Limited (MATL)
- MATL is a wholly owned subsidiary of Mahindra & Mahindra Limited
- Accordingly, NAL is a step-down subsidiary of Mahindra & Mahindra Limited
Business Focus:
- Industry: Defence Industry
- Line of business: Manufacture of aircrafts, aerospace products and undertaking services and activities related thereto
Capital Structure:
- Authorized capital: ₹1 crore divided into 10,00,000 equity shares of ₹10 each
- Initial subscription: MDSL along with its nominee subscribed to 1,00,000 equity shares of ₹10 each aggregating to ₹10 lakh
Funding and Approvals:
- Nature of consideration: Cash Consideration
- Governmental/regulatory approvals required: Not Applicable
Regulatory Reference:
- SEBI Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI Master Circular No. HO/49/14/14(7)/2025-CFDPOD2/I/3762/2026 dated 30th January 2026
Material Financial Impact
No specific financial impact disclosed regarding revenue contribution, EBITDA impact, margin profile, or earnings accretion/dilution. The initial investment size is ₹10 lakh, which is immaterial relative to Mahindra & Mahindra's scale.