Mahindra acquires 100% stake in M.I.T.R.A

Mahindra acquires 100% stake in M.I.T.R.A Mumbai, March 20, 2023 : Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) today completed its acquis ition of MITRA Agro Equipments Private Limited (M.I.T.R.A) by increasing its shareholding from the existing 47. 33% to 100%, making it a wholly owned subsidiary of Mahindra & Mahindra Ltd. (M&M). As part of this acquisiti on, Mahindra fully bought out Omnivore’s stake in the business. Founded in 2012 by Devneet Bajaj, M.I.T.R.A is the Indian market leader in high precision orchard sprayers and a trusted brand for farmers growing fruits like grapes, pomegranate and oranges. The company has more than trip led its revenue from FY18 to FY22 and now employs over 200 people and has successfully started exporting its products global...