Mahindra -; Mahindra incorporates new subsidiary in Costa Rica

7 Jan 2022 , 09:35 AM

Mahindra & Mahindra Limited informed the exchanges Thursday that Bristlecone Internacional Costa Rica Limited has been incorporated in the Republic of Costa Rica on January 4, 2022, as a wholly-owned subsidiary of Bristlecone Limited, the Cayman Islands which is a subsidiary of Mahindra Holdings Limited, which in turn is a wholly-owned subsidiary of the Company.

Bristlecone Limited, Cayman Islands has subscribed to 10 Equity Shares of the face value of 1,000 colón per share, at par in Bristlecone Internacional Costa Rica Limited at 10,000 colón (approx. US$ 1.70).

Consequent to the incorporation of Bristlecone Internacional Costa Rica, it has now become a wholly owned subsidiary of Bristlecone Limited, Cayman Islands and in turn a Subsidiary of the Company.

At around 9.40 am, Mahindra & Mahindra Ltd was trading at Rs840.65 per piece up by Rs0.7 or 0.08% from its previous closing of Rs839.95 per piece on the BSE.