Tech Mahindra London Limited (TMLL), a wholly-owned subsidiary of Tech Mahindra Limited, approved and executed a share transfer agreement to divest its entire 26.42% stake in Surance Limited, an associate company. Following the completion of this transaction, Surance Limited and its wholly-owned subsidiary, Surance US Holdings, Inc., will no longer be associate companies of Tech Mahindra or TMLL.
The divestment agreement was formalized on September 23, with the transaction expected to complete by September 30, 2025. The stake was sold to an existing shareholder holding 60.73% of Surance Limited, and the cash consideration for the sale was USD 1. Importantly, the transaction is not classified as a related-party transaction and is executed entirely outside any scheme of arrangement.
For the financial year ending March 31, 2025, Surance Limited did not contribute to Tech Mahindra’s revenue or net worth. This move is part of Tech Mahindra’s ongoing strategy to streamline its portfolio and focus on core business areas.
