Board of Mahindra & Mahindra Financial Services approves acquisition of 1.18 crore shares of NRHFL from National Housing Bank
Capital MarketThe Board of Mahindra & Mahindra Financial Services at its meeting held on 27 March 2019 has pursuant to the Offer made by National Housing Bank (NHB) vide their Letter dated 11 March, 2019, approved the acquisition of 1,18,91,511 Equity Shares of Rs. 10 each of Mahindra Rural Housing Finance (MRHFL), a subsidiary of the Company, at a premium of Rs. 231.16, aggregating to Rs. 286.78 crore from NHB.
Consequently, the shareholding of the Company in MRHFL will increase from 88.75% to 98.43% as and when the shares are acquired.
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