The Indian Multinational automobile giant, Mahindra & Mahindra (M&M) has stated that it has incorporated its agricultural equipment rental services arm Trringo.com as a wholly-owned subsidiary. The tractor and farm equipment rental business company, Trringo is incorporated as a wholly-owned subsidiary of M&M with an initial subscription of 50,000 shares of Rs 10 each aggregating Rs 5 lakh.
The Trringo.com was incorporated on May 23 as a franchise-based model using new-age digital technology which will initially operate in India only. The Trringo platform will be use as a proprietary digital platform which enabler to process orders and pass them on to the nearest franchisee through location-based mapping. Franchisee could also tie up with tractor owners in the vicinity enabling them to rent out equipment to farmers on a commission basis. Besides, large farmers who own expensive, high-end equipment can rent out their assets, optimizing utilization based on seasonality, cutting across geographies.
So let’s discuss some questions related to this post :
1. Name the company which has incorporated Trringo.com as wholly owned subsidiary ?
Courtesy : The Hindu