Acquisition

This is in furtherance to our letter dated 1st November, 2017, wherein we have informed that the Company has approved an investment of an amount not exceeding Rs.1,160 cores, in one or more tranches in the aggregate, by way of subscribing to the preferential issue of Equity Shares of Mahindra & Mahindra Financial Services Limited, a Listed Subsidiary of the Company (MMFSL).

We would like to inform you that the Company has agreed to subscribe to 2,50,00,000 Equity Shares of Rs.2 each of MMFSL at a premium of Rs.420 per share on Preferential basis. Pursuant to the above, the shareholding of the Company in MMFSL would increase from 51.20% to 53.25%.

Pdf Link: Acquisition

Source : BSE - www.bseindia.com

Published on November 29, 2017
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