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Mahindra Holdings, a wholly-owned subsidiary of Mahindra and Mahindra has concluded the sale of its 100 per cent stake in Mahindra First Choice Services (MFCS) to TVS Automobile Solutions, the company said in a stock exchange notification. It has sold the residual stake in the services arm of the used car business for a consideration of Rs 21.5 crore. It has also sold its entire stake aggregating 100 per cent of optionally convertible redeemable preference shares in Auto Digitech, a wholly-owned subsidiary of Mahindra Holdings for a cash consideration of Rs 13.5 crore to TVS. As a result, ...

Mahindra & Mahindra announced that its wholly owned subsidiary, Mahindra Holdings has concluded the sale of its 100% stake in Mahindra First Choice Services for a consideration of Rs 21.5 crore and its entire stake aggregating 100% of Optionally Convertible Redeemable Preference Shares in Auto Digitech, wholly owned subsidiary of Mahindra Holdings for a cash consideration of Rs 13.5 crore to TVS Automobile Solutions. Consequently, Mahindra First Choice Services and Auto Digitech have ceased to be subsidiaries of Mahindra Holding and of the company with effect from 25 February 2021. Powered ...