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M&M buys out VC firm Omnivore's stake to acquire agri-tech firm MITRA

Deal size not disclosed, will make MITRA a wholly-owned subsidiary of M&M; is in sync with Mahindra's plan to grow revenues from farm machinery 10 fold in next five years

Deals, mergers,
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Sohini Das Mumbai
Keeping in line with its strategy to grow its revenues from the farm machinery segment 10 fold within the next five years, Mahindra and Mahindra (M&M) acquired agro-equipment maker MITRA Agro Equipments after buying out venture capital firm Omnivore’s stake in the company.

M&M Farm Equipment Sector on Monday signed definitive documents to raise its shareholding in MITRA Agro Equipment from the existing 47.33 per cent to 100 per cent, making it a wholly-owned subsidiary of M&M. As part of the deal, M&M fully bought out Omnivore’s stake in the business. The deal size was not disclosed.

Last February, M&M

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First Published: Mar 20 2023 | 1:47 PM IST

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