Mahindra & Mahindra (M&M) has received an approval for sale of a part of its shareholding in Mahindra Logistics (MLL), a subsidiary of the company, as part of the proposed Initial Public Offer (IPO) of MLL, subject to requisite approvals and market conditions.
The board of directors at its meeting held on June 13, 2017 has approved for the same. The size of the stake sale, price and other details of the IPO will be determined in due course by a Committee of Directors.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
| Company Name | CMP |
|---|---|
| Tata MotorsPassenger | 355.35 |
| Maruti Suzuki | 13725.40 |
| Mahindra & Mahindra | 3329.50 |
| Hyundai Motor India | 1852.45 |
| Mercury Metals | 30.94 |
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