Mahindra & Mahindra announced that the company today, in exercise of its Call Option under the relevant Shareholders Agreement (SHA), has signed a Share Purchase Agreement for acquiring not more than 21,875 Equity Shares of Rs.10 each at a premium of Rs.3,192.23 per Equity Share from the existing shareholders of M.I.T.R.A. Agro Equipments (MITRA), an Associate of the Company.
The shareholding of the Company in MITRA would stand increased to 47.33% (on a fully diluted basis) from the present 39.02% (on a fully diluted basis) upon completion of the captionedtransaction.
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