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Mahindra Logistics informs about approval for investment in wholly-owned subsidiary

09 Oct 2024 Evaluate
In compliance with Regulation 30(6) read with Para A(1) of Part A of Schedule III of the SEBI Listing Regulations, Mahindra Logistics has informed that the Investment Committee of the Board of Directors of the company at their Meeting held today Wednesday, 9 October 2024, has approved investment in the equity shares of MLL Express Services (‘MESPL’), wholly-owned subsidiary of the Company, up to an amount not exceeding Rs. 50 Crores by way of subscription to rights issue by MESPL of up to 5,00,00,000 equity shares of Rs. 10 each, at par. The full amount of the issue price will be payable on application in cash. The said investment will not cause any change in the shareholding of the Company in MESPL. MESPL will continue to be a 100% wholly-owned subsidiary of the Company. The detailed disclosure with respect to the acquisition as required under Regulation 30(6) read with Para A(1) of Part A of Schedule III of the SEBI Listing Regulations and the SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13 July 2023 is attached as Annexure A to this letter. The Meeting of the Investment Committee of the Board of Directors of the Company commenced at 9:00 am (IST) and concluded at 9:50 am (IST). This intimation is also being uploaded on the website of the Company and can be accessed at the weblink: https://mahindralogistics.com/disclosures-under-sebi-regulation/disclosures-under-sebiregulation-462/.

The above information is a part of company’s filings submitted to BSE.

Mahindra Logistics Share Price

432.00 13.85 (3.31%)
17-Apr-2026 16:59 View Price Chart
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