Mahindra & Mahindra sells 22% stake in Mahindra Sanyo Special Steel

For consideration of Rs 146.32

Mahindra & Mahindra has completed sale of 26,36,401 Equity Shares of Rs.10 each held by the Company in Mahindra Sanyo Special Steel (MSSSPL), aggregating to 22% of the paid-up Equity Share Capital of MSSSPL, to Sanyo Special Steel Co., for a consideration of Rs.146.32 crore.

With this, the company's shareholding in MSSSPL has come down from 51% to 29% of its share capital. Consequently, MSSSPL ceased to be a subsidiary of the Company.

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