Mahindra & Mahindra Ltd.

BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3124.00
40.50 (1.31%)
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M&M’s arm hikes stake in Gateway to 100%

Date: 11-03-2016

Mahindra & Mahindra’s (M&M) wholly-owned subsidiary - Mahindra Holdings (MHL), has increased its stake in the equity share capital of Gateway Housing Company (Gateway), from 50% to 100% on March 10, 2016. Consequent to said acquisition, Gateway has become a wholly owned subsidiary of MHL and in turn a step-down subsidiary of the company with effect from March 10, 2016.

Gateway is engaged as aggregators of goods and providing all types of mobility, advertising and transportation related services for all types of goods and materials and digital or logistic solutions. It is presently not carrying on any business activities.

Mahindra & Mahindra (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.