News Details

( 11 Sep 2020)
Mahi. & Mahi - Termination Of Share Purchase Agreement For Sale Of Shares Of Neo Solren Private Limited, A Step-Down Subsidia

We refer to our letters 21st February, 2020, 21st May, 2020 and 31st August, 2020 ('Annexure I')
informing that Mahindra Renewables Private Limited ('MRPL') a step-down wholly owned
subsidiary of the Company, had on 21st February, 2020 agreed to sell 93,15,000 Equity Shares of Rs.
10 each held by MRPL in Neo Solren Private Limited ('NSPL') aggregating 100% of the paid-up
Equity Share Capital of NSPL to CLP India Private Limited ('CLP India'), for a consideration of Rs.
104.67 crores subject to customary closing adjustments, by September 2020.
Given that the closing has not occurred within the agreed timeframes, the Share Purchase
Agreement which was entered into for sale of 93,15,000 Equity Shares of Rs. 10 each of NSPL held by
MRPL to CLP India stands terminated on 10th September, 2020.