Mahindra & Mahindra’s (M&M) Promoter — M&M Benefit Trust has sold 1.92 crore equity shares (treasury stock) representing 1.54% of the total paid up equity share capital of the Company. The sale has been executed on the stock exchange, at a gross price of Rs 648 per share.
Following the sale, the shareholding of the Promoters and Promoter Group of the Company has come down from 20.44% to 18.90% of the total paid up equity share capital of the Company.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.