Mahindra Group on Thursday said it has incorporated a step-down subsidiary, Novavayu Aerospace Ltd (NAL), for aircraft manufacturing, aerospace products and related activities.
“NAL is incorporated as a wholly-owned subsidiary of Mahindra Defence Systems Ltd. MDSL is a wholly-owned subsidiary of Mahindra Advanced Technologies Ltd, which in turn is a wholly-owned subsidiary of the company. Accordingly, NAL is a step-down subsidiary of the company,” M&M Ltd said in a regulatory filing.
The new entity, which will cater to the Defence Industry, has been incorporated with an authorised capital of Rs 1 crore and will be headquartered in Mumbai, it said.
Published on July 31, 2026
