Mahindra & Mahindra Approves Merger of Wholly-Owned Arm ICML
Mahindra & Mahindra Limited (M&M) has approved the merger of its wholly owned subsidiary, Mahindra Investment Company (Mauritius) Limited (ICML), with the parent company. The proposal was cleared by the company’s Board of Directors at its meeting held on July 30, 2026.
The merger will be carried out through a Scheme of Merger by Absorption under Sections 230 to 234 of the Companies Act, 2013, along with the applicable provisions of the laws of Mauritius. The scheme remains subject to approvals from the National Company Law Tribunal (NCLT), Mumbai Bench, and other statutory and regulatory authorities.
The appointed date for the proposed merger is April 1, 2026, subject to the scheme becoming effective after receiving all necessary approvals.
Financial Profile of Both Companies (FY26)
Mahindra & Mahindra Limited (Transferee Company)
- Standalone Income from Operations: ₹1,47,765.35 crore
- Net Worth: ₹73,994.77 crore
- Paid-up Share Capital: ₹601.02 crore
Mahindra Investment Company (Mauritius) Limited (Transferor Company)
- Income from Operations: ₹4.69 crore
- Net Worth: ₹134.95 crore
- Paid-up Share Capital: ₹111.90 crore
No Change in Shareholding
Since Mahindra Investment Company (Mauritius) Limited is a 100% wholly owned subsidiary of Mahindra & Mahindra, no shares will be issued, and no cash consideration will be paid as part of the merger.
Once the scheme becomes effective, the entire share capital of ICML will stand cancelled automatically, without requiring any further action.
Purpose of the Merger
According to the company, the merger is intended to:
- Simplify the group’s corporate structure.
- Consolidate investment operations under the parent company.
- Reduce administrative and regulatory compliance costs.
- Improve operational efficiency by eliminating duplicate legal entities.
Mahindra & Mahindra also stated that the proposed merger will not have any adverse impact on the rights of shareholders, creditors, or employees of either company.