Mahindra & Mahindra Ltd.

Investment banking giant Goldman Sachs has sold seven million shares of tractor and utility vehicle maker Mahindra & Mahindra (M&M) for a little over Rs 753 crore through a block deal on the National Stock Exchange (NSE).

Golboot Holdings, the Cyprus-based entity controlled by Goldman, sold the shares, representing 1.14 per cent of M&M’s equity, at Rs 1,076.21 a share; the bank held 3.05 per cent stake in the Mumbai-based company as on March 31 last year.

Life Insurance Corporation is the largest institutional shareholder in M&M with 11.38 per cent. Institutional shareholders hold 26 per cent in the vehicle maker, higher than the promoter group’s stake of 25.3 per cent.