M&M's stake in Mahindra & Mahindra Financial Services rises to 52.16% from 51.19%
Mahindra & Mahindra Financial Services approved the allotment of 61,77,64,960 Equity Shares at a price of Rs. 50 per Equity Share (including a premium of Rs. 48 per Equity Share) under Rights Issue.Accordingly, pursuant to the Allotment, the paid-up equity share capital of the Company stands increased from 61,77,64,960 Equity Shares to 123,55,29,920 Equity Shares. Further, the percentage of shareholding of Mahindra & Mahindra, the holding company, (the Promoter) stands increased from 51.19% to 52.16%.
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