The Board of Directors of Mahindra Susten (MSPL), a subsidiary of Mahindra Holdings (MHL), which is a wholly owned subsidiary of Mahindra & Mahindra has approved the offer and issuance of up to 29,79,50,001 equity shares at Rs. 60.40 per share (comprising of face value of Rs. 10/- per share and premium of Rs. 50.40 per share) for cash, aggregating to Rs. 1799.61 crore to the existing equity shareholders of MSPL on a rights basis in one or more tranches to meet the funding requirements of MSPL which inter alia are associated with the renewable power projects won by MSPL during financial year 2025 and financial year 2026 which are now entering execution.

Further, the company has received an intimation today from MHL, that MHL has today i.e. 12 August 2025, inter alia accorded its approval to subscribe to the rights Issue of equity shares of MSPL in one or more tranches.

MHL will invest an amount not exceeding Rs. 1080 crore by way of subscription to rights issue of equity shares of MSPL at a price of Rs. 60.40/- per fully paid-up equity share (which includes premium of Rs. 50.40/- per fully paid-up equity share) in one or more tranches.

Subsequent to the allotment of equity shares on rights basis by MSPL to MHL; the number of shares of MHL in MSPL will increase from 23,45,93,167 fully paid-up equity shares of face value of Rs. 10/- each to 41,33,92,963 fully paid-up equity shares of face value of Rs. 10/- each. However, it will not cause any change in the percentage of shareholding of MHL in MSPL and it will continue to remain the same i.e. 60.01%.