Financial Daily from THE HINDU group of publications
Thursday, Dec 15, 2005
Financial Daily from THE HINDU group of publications Thursday, Dec 15, 2005 |
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Markets
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IPOs Money & Banking - NBFCs M&M financial arm plans IPO Our Bureau
Mumbai , Dec. 14 MAHINDRA & Mahindra Financial Services Ltd (MMFSL) has informed the BSE that its members have approved a fresh issue not exceeding 1.5 crore equity shares including a green-shoe option, through an IPO. The price would be determined under the book building process. "The IPO would also include an offer of sale not exceeding one crore equity shares, aggregating 14.25 per cent of the paid-up capital of the company by Mahindra & Mahindra Ltd, the promoter and the holding company, and other existing shareholders," the statement to the BSE said. MMFSL's board has also approved an increase in its authorised share capital from Rs 125 crore to Rs 140 crore along with related amendments to its articles of association and memorandum of association.
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