4 hours Ago
Mahindra & Mahindra Limited (M&M), on Monday, incorporated a wholly owned subsidiary named Mahindra Advanced Technologies Limited (MATL) in Mumbai, Maharashtra. The company confirmed the incorporation after checking the Ministry of Corporate Affairs website at 03:26 p.m.
on the same day. The M&M board of directors approved the plan to establish MATL on February 7, 2025. In a letter to the stock exchanges that day, M&M wrote, “The company is proposed to be both an operating & a holding company and will strive to be a leading player providing integrated, innovative and advanced technologies in the area of security solutions.
” MATL will focus on designing, developing, manufacturing, supplying, operating, trading, overhauling, repairing, maintaining, and servicing security solutions. It belongs to the manufacturing and allied services industry. M&M will fully own MATL by subscribing to 50 lakh equity shares with a face value of ₹10 each, costing ₹5 crore in cash.
This makes M&M the sole holding company with 100% of MATL’s share capital..
