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Auto major Mahindra & Mahindra today said holding of one of its promoter group firms Prudential Management & Services (PMS) has increased to 11.40% following consolidation of other promoter entities.
In a filing to the BSE, Mahindra & Mahindra (M&M) said 5,40,59,930 equity shares, representing 8.81% stake, were transferred to PMS from other promoter entities -- Corbel Estate & Investments, Andromeda Investment & Finance, Azrael Investments and Ridge Business Centre.
Corbel was merged with Andromeda, which later along with Ridge and Azrael was merged with PMS, it added.
With completion of the these amalgamations, the holding of PMS in M&M increased to 11.40% from 2.59%.
Shares of M&M today closed trading 0.14% up at Rs 838.95 apiece on BSE.
