Mahindra & Mahindra Limited (M&M) announced on January 9, 2026, that it has entered into an agreement with its listed associate, Tech Mahindra Limited (TechM), to establish joint control over Tech Mahindra Foundation (TMF).

TMF, a not-for-profit company focused on education, employability, and disability, will now be jointly controlled by M&M and TechM. This alignment aims to enhance the company's Corporate Social Responsibility (CSR) strategy and maximize its impact.

Under the agreement, both M&M and TechM will have equal representation on TMF's Board. Consequently, TMF has been reclassified as an associate of M&M as per the Companies Act, 2013, effective from January 9, 2026. There will be no change in the shareholding pattern of M&M, TechM, or TMF as a result of this restructuring.