MAHINDRA & MAHINDRA LTD. - Sale Of Stake Held By Sunrise Initiatives In Mahindra Marine Private Limited To Ocean Blue Boating Private Limited

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05 Jun 2023
With reference to the captioned subject, we would like to inform you that the Trustees of Sunrise Initiatives ('Sunrise Trust') have today entered a Share Purchase Agreement ('Agreement') with Ocean Blue Boating Private Limited ('Ocean Blue' or 'JV Partner') and Mahindra Marine Private Limited ('MMPL') whereby Sunrise Trust has sold its entire stake in MMPL i.e. 81.58% of the Paid-Up Equity Share Capital of MMPL comprising of 2,28,41,549 Equity Shares of Rs. 10 each to Ocean Blue and its nominee(s). Ocean Blue at present holds the balance 18.42% stake in MMPL. Please refer to the attached letter for further details.
View all announcements for MAHINDRA & MAHINDRA LTD.	Source: BSE India

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