Mahindra & Mahindra Limited has informed the Exchange about Investment in Rights Issue of Mahindra Susten Private Limited ( MSPL ) a subsidiary of Mahindra Holdings Limited ( MHL ), which is a wholly owned subsidiary of the Company.
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Mahindra & Mahindra's wholly-owned subsidiary Mahindra Holdings Limited (MHL) will invest up to Rs. 1,080 crores to subscribe to a Rights Issue of its own subsidiary, Mahindra Susten Private Limited (MSPL), at Rs. 60.40 per share. The total rights issue size is Rs. 1,799.61 crores (29.79 crore equity shares). The funds will be used by MSPL to execute renewable power projects it won during FY25 and FY26 that are now entering the construction phase. MHL's shareholding in MSPL will remain unchanged at 60.01% after the allotment, as this is a pro-rata rights subscription. MSPL's revenue jumped sharply from Rs. 18.57 crores in FY24 to Rs. 354.04 crores in FY25, showing strong growth in the renewable energy EPC business. The transaction is expected to be completed by December 31, 2025.
This is an internal group-level capital infusion rather than a direct outflow from M&M, so the immediate financial impact on M&M is limited. However, it signals continued commitment to scaling the renewable energy business through MSPL, which is seeing rapid revenue growth. Shareholders may view this positively as it funds an existing high-growth subsidiary without diluting M&M's effective control.