Mahindra & Mahindra Financial Services Ltd allots 2.5 crore shares to Mahindra & Mahindra Ltd

The Securities Issue Committee of the Board of Directors of Mahindra & Mahindra Financial Services Ltd at its meeting held today i.e., 30th November, 2017, approved the allotment of 2,50,00,000 Equity Shares of face value Rs. 2 each to Mahindra & Mahindra Limited ('M&M'), the holding company, ('the Promoter') at the Issue Price of Rs.422 per Equity Share, aggregating to Rs.1,055 crores.

Pursuant to this allotment, the paid-up share capital of the Company stands increased from 56,87,64,960 Equity Shares to 59,37,64,960 Equity Shares and the percentage shareholding of M&M stands increased from 51.20% to 53.25%.

Shares of MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. was last trading in BSE at Rs.445.55 as compared to the previous close of Rs. 445.3. The total number of shares traded during the day was 338589 in over 4785 trades.

The stock hit an intraday high of Rs. 454.4 and intraday low of 432.4. The net turnover during the day was Rs. 150106731.

Source : Equity Bulls

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