Auto major Mahindra & Mahindra (M&M) today said holding of one of its promoter group firms Prudential Management & Services (PMS) has increased to 11.40 per cent following consolidation of other promoter entities.
In a filing to the BSE, Mahindra & Mahindra (M&M) said 5,40,59,930 equity shares, representing 8.81 per cent stake, were transferred to PMS from other promoter entities — Corbel Estate & Investments, Andromeda Investment & Finance, Azrael Investments and Ridge Business Centre.
Corbel was merged with Andromeda, which later along with Ridge and Azrael was merged with PMS, it added.
With completion of the amalgamations, the holding of PMS in M&M increased to 11.40 per cent from 2.59 per cent.
Shares of M&M today closed trading 0.14 per cent up at Rs 838.95 apiece on the BSE.