MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 448 44. Investment in Joint Arrangements and Associates (Continued) Interests in Associates: The Group’s interests in associates are: Name of the Entity Place of Incorporation and Place of Operation Proportion of ownership interest* As at 31st March, 2024 2023 Tech Mahindra Limited................................................................................................................................................................................... India 28.13% 28.21% PF Holdings B.V. ................................................................................................................................................................................................. Netherlands 40.00% 40.00% Shiga Mitsubishi Agricultural Machinery Sales Co., Ltd. ........................................................................................................ Japan 22.40% 22.40% Kagawa Mitsubishi Agricultural Machinery Sales Co., Ltd. ................................................................................................... Japan 33.33% 33.33% Okanetsu Industry Co., Ltd. ....................................................................................................................................................................... Japan 33.77% 33.77% Kitaiwate Ryono Co., Ltd. ............................................................................................................................................................................ Japan 25.00% 25.00% Aizu Ryono Co., Ltd. (under liquidation).............................................................................................................................................. Japan 21.25% 21.25% Joban Ryono Co., Ltd. .................................................................................................................................................................................... Japan 20.00% 20.00% Fukuryo Kiki Hanbai Co., Ltd....................................................................................................................................................................... Japan 20.00% 20.00% Ibaraki Ryono Co., Ltd. ................................................................................................................................................................................... Japan 21.64% 21.64% Kotobuki Noki Co, Ltd. ................................................................................................................................................................................... Japan 33.33% 33.33% Honda Seisakusyo, Inc. .................................................................................................................................................................................. Japan 25.00% 25.00% Yamaichi Honten Co., Ltd. ........................................................................................................................................................................... Japan 42.85% 42.85% Resson Aerospace Corporation # (Liquidated w.e.f 20th September, 2023)............................................................ Canada — 13.83% Kumsan Dokum Mazelmeri A.S. .............................................................................................................................................................. Turkey 25.10% 25.10% Mahindra Finance USA, LLC........................................................................................................................................................................ U.S.A. 49.00% 49.00% CIE Automotive India Limited (formerly known as Mahindra CIE Automotive Limited) (upto 24th May, 2023) #................................................................................................................................................................................ India — 3.20% CIE Automotive S.A. #..................................................................................................................................................................................... Spain 8.01% 7.83% Mahindra Knowledge Park (Mohali) Limited.................................................................................................................................... India 46.15% 46.15% Ample Parks And Logistics Private Limited (formerly known as AMIP Industrial Parks Private Limited) India 26.00% 26.00% Ample Parks Project 1 Private Limited (formerly known as Interlayer Two Warehousing Private Ltd) (w.e.f 4th September, 2023)........................................................................................................................................................................ India 33.00% — Ample Parks Project 2 Private Limited (formerly known as Interlayer Three Warehousing Private Ltd) (w.e.f 4th September, 2023)........................................................................................................................................................................ India 33.00% — Kiinteistö Oy Seniori-Saimaa...................................................................................................................................................................... Finland 31.15% 31.15% Great Rocksport Private Limited............................................................................................................................................................ India 23.42% 23.42% ZipZap Logistics Private Limited (upto 21st December, 2023)^....................................................................................... India — 36.00% Renew Sunlight Energy Private Limited .......................................................................................................................................... India 37.21% 37.21% Sustainable Energy Infra Investment Managers Private Limited (w.e.f 9th June, 2023).................................. India 40.00% — Green Energy Infra Project Managers Private Limited (w.e.f 11th July, 2023)....................................................... India 40.00% — Brainbees Solutions Limited (formerly known as Brainbees Solutions Private Limited) #........................... India 12.42% 12.42%
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