M&M to buy remaining 43% in Mahindra – BT Investment Company for ₹66 crore

Utility vehicle major Mahindra & Mahindra Ltd (M&M) on Friday (November 21) said it has finalised the acquisition of the remaining 43% stake in Mahindra – BT Investment Company (Mauritius) Ltd (MBTICM) for ₹66.33 crore. The company completed the execution of a Share Purchase Agreement with BT Holdings Limited (BTHL) and MBTICM at 7:42 p.m. on November 21, 2025.

Under this agreement, Mahindra & Mahindra will acquire 51,08,400 equity shares of MBTICM at $1.4626 per share, amounting to $7,471,546, equivalent to approximately ₹66.33 crore at ₹88.79 per USD. The acquisition reflects the fair value of the available assets of MBTICM.

Once the transaction is completed, BTHL’s shareholding in MBTICM will fall to zero, and Mahindra & Mahindra will hold 100% of the paid-up equity share capital, making MBTICM a wholly owned subsidiary. The indicative completion date for the acquisition is January 19, 2026.

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This transaction follows the company’s earlier communication dated March 18, 2025, regarding the agreement to acquire 57% of MBTICM from Mahindra Overseas Investment Company (Mauritius) Limited, a wholly owned subsidiary.
The latest acquisition will allow Mahindra & Mahindra to conclude the venture and pursue the liquidation of MBTICM as part of its corporate simplification strategy.

MBTICM, incorporated on May 9, 2005, operates as an investment management company engaged in overseas investments and portfolio management services. Its revenue from operations for the year ended March 31, 2025, stood at ₹8.80 crore, with a net worth of ₹144.78 crore.

Turnover for the previous years was ₹8.20 crore in FY24 and ₹4.68 crore in FY23. The acquisition is a related-party transaction and has been executed at arm’s length. No regulatory approvals are required. The consideration will be paid in cash.

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