Tech Mahindra to raise Pininfarina stake to near 93 percent

Tech Mahindra's wholly-owned subsidiary is set to acquire additional shares in Pininfarina, the Italian automotive design and manufacturing company, in a move that will substantially increase the Indian technology conglomerate's controlling interest.

The proposed transaction will result in the subsidiary's shareholding climbing from the present 82.57 percent to 92.59 percent upon successful completion. The acquisition represents a strategic deepening of Tech Mahindra's commitment to the luxury automotive sector through its Italian operations.

Pininfarina, renowned for its heritage in automotive design and engineering, has been a key component of Tech Mahindra's portfolio in the premium mobility space. The increased stake will provide the parent company with enhanced operational control and alignment of strategic objectives.

The transaction remains subject to customary conditions and regulatory approvals. Tech Mahindra has maintained its presence in the automotive and mobility sectors as part of its diversified business strategy across technology and manufacturing domains.