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Business News/ Market / Stock-market-news/  M&M board approves stake sale in Mahindra Logistics
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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

Shares of M&M ended 0.49% down at Rs1,417.35 on the BSE. Madhu Kapparath/MintPremium
Shares of M&M ended 0.49% down at Rs1,417.35 on the BSE. Madhu Kapparath/Mint

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.

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Published: 13 Jun 2017, 09:02 PM IST
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