India's top tractor and utility vehicle maker Mahindra & Mahindra on Monday made a Rs 4.9 billion ($110 million) open offer for a further 20% in Punjab Tractors and its subsidiaries, as required by law after it won the bidding for a 43.3% stake.
Mahindra, India's top tractor and utility vehicle maker, and subsidiary Mahindra Holdings & Finance Ltd are buying stakes held by private equity firm Actis and India's Burman family in a deal that values Punjab at approximately Rs 22 billion.
Read more in The Times of India article.
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