Mahindra Ugine Steel’s Chairman Anand Mahindra has sold its entire stake in the company through an open market transaction on NSE. The chairman has sold all his 13,617 shares constituting 0.04% stake in the company for over Rs 58 lakh.
Mahindra Ugine Steel, a speciality steel producer, is a subsidiary of Mahindra CIE Automotive, earlier known as Mahindra Forgings. Shareholders of Mahindra CIE Automotive had on June 20 approved merger of five subsidiaries with itself including Mahindra Ugine Steel.
