Mahindra Logistics to invest Rs 35 cr in MLL Express Services
Mahindra Logistics has approved investment in the equity shares of MLL Express Services (MESPL), wholly-owned subsidiary of the Company, up to an amount not exceeding Rs. 35 crore by way of subscription to rights issue by MESPL of up to 3,50,00,000 equity shares of Rs. 10 each, at par. The full amount of the issue price will be payable on application in cash.
The said investment will not cause any change in the shareholding of the Company in MESPL. MESPL will continue to be a 100% wholly-owned subsidiary of the Company.
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