The Economic Times

Mahindra incorporates step-down subsidiary Novavayu Aerospace for aircraft manufacturing

Mahindra Group has established Novavayu Aerospace Ltd as a new subsidiary. This entity will focus on manufacturing aircraft and aerospace products for defense. Novavayu Aerospace Ltd is a wholly owned subsidiary of Mahindra Defence Systems. The new company has an authorised share capital of one crore rupees. Its headquarters will be located in Mumbai.