Mahindra & Mahindra Financial Services (Mahindra Finance) has approved the proposal for sale of 12.37% stake in its wholly-owned subsidiary viz. Mahindra Insurance Brokers to Inclusion Resources, a subsidiary company of Leapfrog Financial Inclusion Fund, incorporated in Singapore, for an amount aggregating Rs 64.33 crore, subject to the receipt of necessary regulatory approvals.
Mahindra Finance is a subsidiary of Mahindra & Mahindra (M&M). It provides finance for purchase of utility vehicles (UV), tractors and cars, two/ three-wheeler, refinance, commercial vehicle, construction equipments and home loans.
