Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) is seeking shareholders’ approval to raise up to Rs 5,000 crore through issue of securities on private placement basis at the upcoming annual general meeting. Mumbai-based company intends to use the funds to augment resources for the ongoing capital expenditure, long-term working capital/short term working capital and for general corporate purposes.

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.