Mahindra & Mahindra has announced the acquisition of an additional 28.03% stake in its subsidiary Carnot Technologies Private Limited, bringing its total shareholding to 80.72%. According to reports from CNBC TV18, the acquisition will be completed via a cash consideration of approximately ₹6.72 crore, with shares priced at ₹11,978 apiece. The transaction involves the purchase of 5,608 equity shares, representing 28.03% of Carnot's paid-up equity capital, with the deal expected to close by May 2026.
Following the completion of this acquisition, M&M's equity holding will increase from 52.69% to 80.72%, while its voting rights will rise to 89%, factoring in existing preference shares. As reported by CNBC TV18, the company stated that this increase in stake is aligned with its belief in the long-term potential of precision farming and telematics technology. The move aims to tighten M&M's grip on precision agriculture and connected vehicle ecosystems, supporting its strategic push across farm and mobility segments.
Founded in 2015, Carnot Technologies builds connected devices and software platforms enabling performance monitoring and operational insights across vehicles and farm equipment. According to CNBC TV18 reports, the company's revenues have declined over the past three years, from ₹24.81 crore in FY24 to ₹23.08 crore in FY25 and further to ₹19.8 crore in FY26. Despite revenue challenges, Carnot has remained profitable with a PAT of ₹1.17 crore and a net worth of ₹6 crore in FY26.
Shares of Mahindra & Mahindra ended Monday's trading session 2.1% higher at ₹3,104.80 on the NSE, as reported by CNBC TV18. The acquisition underscores M&M's push to integrate hardware, software, and data across its core businesses, with deeper control of Carnot expected to strengthen its digital capabilities across farm and mobility segments. The strategic move represents M&M's continued commitment to precision farming and telematics technology, positioning the company for enhanced digital transformation in the agricultural and mobility sectors.
