Announced Tue, 30 Jun · 23:15 IST
M&M updates divestment of Turkish step-down subsidiary Erkunt
Strategic Transactions View source PDF
M&M · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+3.7%1-day move
₹3074.70
prior close
₹3088.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+1.6+1.2+1.5+1.6+3.7+1.9+4.1+3.5+0.9+1.8+3.3———
Up moveDown movePending
AI summary
M&M has updated its plan to fully divest Erkunt Sanayi, a Turkish step-down tractor subsidiary. The sale consideration to MOICML remains about Rs 2.13 lakh, but MOICML will now infuse about Rs 471 crore to clear Erkunt's external debt and fund operations until closing, expected by 15 August 2026. The buyer is also investing about Rs 95 crore. This revises the earlier announcement of 10 April 2026.
Likely market impact
M&M exits a non-core overseas tractor unit by first clearing its debt, limiting future liabilities. Minor cash impact; signals portfolio cleanup.