M&M board approves stake sale in Mahindra Logistics
The size, price and other details of the Mahindra Logistics stake sale will be determined in due course by a committee of directors, M&M said
New Delhi: Mahindra & Mahindra Ltd (M&M) on Tuesday said its board has approved sale of a part of shareholding in its arm Mahindra Logistics Ltd (MLL).
The company’s board, which met on Tuesday, has approved sales of a part of its shareholding in Mahindra Logistics, a subsidiary of the company, as part of the proposed initial public offering of MLL, M&M said in a regulatory filing.
The size of the stake sale, price and other details of the IPO will be determined in due course by a committee of directors, it added. Shares of M&M ended 0.49% down at Rs1,417.35 on BSE.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!