iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Swaraj Engines hits new 52-week high as M-;M proposes to acquire 17.41% stake

21 Sept 2022 , 11:23 AM

Mahindra & Mahindra Limited informed that the company proposes to acquire 21,14,349 equity shares, aggregating to 17.41% of the paid-up equity share capital of Swaraj Engines Limited from Kirloskar Industries Limited.

Following this development, Swaraj Engines was trading 13.39% higher at Rs1,921.85 per piece, against its previous closing of Rs1,694.85 on the BSE. The counter hit a new 52-week high of Rs1,950 so far.

The company stated that upon the said acquisition, Mahindra’s shareholding in SEL would increase from 34.72% to 52.13% of the equity share capital of SEL. As a result, Swaraj Engines, the now associate company, will become a subsidiary of the company.

SEL manufactures and supplies diesel engines ranging from 22 HP to 65 HP for use in tractors to Mahindra & Mahindra Limited's Farm Equipment Sector.

The acquisition will be at a price of Rs1,400 per share aggregating to an approximate amount of Rs296 crore, payable in cash. Mahindra seeks to complete the transaction by September 30, 2022.

For the year ended March 31, 2022, SEL had total revenue from operations of Rs1,138.15 crore.

At around 10.06 AM, Mahindra & Mahindra was trading at Rs1,302.05 apiece, down by 0.07% from its previous closing of Rs1,302.90 on the BSE. The scrip touched intraday high and low of Rs1,322.40 and Rs1,299.30 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Kirloskar Stake Sale
  • Mahindra & Mahindra Acquisition
  • Mahindra & Mahindra news
  • Mahindra & Mahindra Stock
  • Mahindra & Mahindra Updates
  • Swaraj Engine Sale
  • Swaraj Engines
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.