Mahindra & Mahindra invests in rights issue of Mahindra & Mahindra Financial Services

Mahindra & Mahindra has been allotted 8,51,82,612 fully paid-up equity shares of face value of Rs. 2/- each by its listed subsidiary, Mahindra & Mahindra Financial Services pursuant to rights issue at an issue price of Rs 194 per share including premium of Rs 192 per share.

Consequently, the company's stake in Mahindra & Mahindra Financial Services stands increased from  64,43,99,987 fully paid-up equity shares of Rs. 2/- each to 72,95,82,599 fully paid-up equity shares of face value of Rs. 2/- each. Further, the percentage of shareholding of the Company in MMFSL stands increased from 52.16% to 52.49%.