Kirloskar Industries (KIL) announced the proposal of divesting its 17.41% stake in Swaraj Engines (SEL) to Mahindra & Mahindra (M&M). The divestment is proposed through inter-se transfer amongst the promoter through an off-market transaction. The transfer will be carried at a price of ₹1,400 per share. Notably, the acquisition will result in increasing Mahindra’s stake in Swaraj Engines Ltd to 52.13% from 34.72%. ICICI Direct expects SEL’s growth to mirror the tractor growth at the Swaraj brand of tractors at M&M.