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M&M forms subsidiary in Bangladesh

Posted On: 2019-09-18 08:49:12

"Mahindra Bangladesh Private Limited" ("MBPL") has been incorporated in Dhaka, Bangladesh under the laws of Bangladesh [The Companies Act (Act XVIII) of 1994] as a Private Limited company and as a wholly owned subsidiary of Mahindra & Mahindra Limited ("the Company").

The Authorized Capital of the company will be 50,00,000 Ordinary Shares of Bangladeshi Taka ("BDT") 100/- per share aggregating to BDT 50,00,00,000/-

The Paid up Capital is 20,001 Ordinary Shares of BDT 100/ per share aggregating to BDT 20,00,100/- equivalent to Indian Rupees ("INR") 17.12 Lakhs.

The Date of Incorporation of company is 12th September, 2019.

The company will carry on the businesses of trading, distributing, supplying, storing, exporting, importing, servicing, repairing, manufacturing, developing, assembling, leasing, selling on hire-purchase or instalment systems, research & development, of all kinds of passenger, transportation and utility vehicles including but not limited to tankers, tractors, agricultural machinery, multi-utility vehicles, trailers, lorries, trucks, buses, motor cars, motor cycles, threewheelers or other motor vehicles of all kinds and descriptions.

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.523.75 as compared to the previous close of Rs. 537.05. The total number of shares traded during the day was 126220 in over 2394 trades.

The stock hit an intraday high of Rs. 543 and intraday low of 520. The net turnover during the day was Rs. 66804042.

Source: Equity Bulls

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