Tech Mahindra has announced that its wholly-owned subsidiary, Tech Mahindra London Limited (TMLL), has entered into an agreement to sell its entire stake in Mahindra Racing UK Limited (MRUK) to Mahindra Overseas Investment Company (Mauritius) Limited (MOICML). The transaction, finalized on November 13, 2025, will result in MRUK ceasing to be a subsidiary of TMLL and Tech Mahindra upon completion, expected by December 31, 2025.
Strategic Shift in Subsidiary Holdings
Tech Mahindra London Limited (TMLL), a wholly-owned subsidiary of Tech Mahindra, executed a Share Purchase Agreement (SPA) on November 13, 2025, to divest its stake in Mahindra Racing UK Limited (MRUK).
Details of the Transaction
The buyer, Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), is a wholly-owned subsidiary of Mahindra and Mahindra Limited. Following the completion of this transaction, MRUK will no longer be a wholly-owned subsidiary of TMLL or Tech Mahindra.
Financial Details and Rationale
The consideration to be received by TMLL from MOICML is GBP 1.20 million, equivalent to approximately Rs. 14 crores. This transaction involves related parties and is conducted at arm’s length.
Subsidiary Performance
Mahindra Racing UK Limited (“MRUK”) became a wholly owned step-down subsidiary of the Company, through Tech Mahindra London Limited (“TMLL”) w.e.f. 9th June 2025 and hence was not part of the consolidated financials of the Company as on 31st March 2025.
The revenue and networth contributed by MRUK in the consolidated financials of the Company as of 30th September 2025 are as under:
Revenue – INR 106.05 crores
Networth – INR 25.31 crores
Completion
The deal is expected to close by December 31, 2025.
Source: BSE
