Mitsubishi Heavy Industries (MHI), headquartered in Tokyo and Mahindra & Mahindra (M&M), part of the Mahindra group headquartered in Mumbai, today entered into a strategic partnership in the agricultural machinery field.

Under the definitive agreement signed today, Mahindra will invest JPY 3 billion (USD 25 million) for acquiring 33% voting stake in MHI subsidiary, Mitsubishi Agricultural Machinery Co (MAM) through fresh issue of common shares and class A (non-voting) shares of MAM.

The deal is expected to close by Oct. 1, 2015, with the new funding to be used to increase MAM's capital base.

Shares of the company gained Rs 4, or 0.32%, to trade at Rs 1,255. The total volume of shares traded was 8,312 at the BSE (10.33 a.m., Thursday).