Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has completed sale of 26,36,401 Equity Shares of Rs 10 each held by the company in Mahindra Sanyo Special Steel (MSSSPL), aggregating to 22% of the paid-up Equity Share Capital of MSSSPL, to Sanyo Special Steel Co., for a consideration of Rs 146,32,02,555.

With this, the company's shareholding in MSSSPL has come down from 51% to 29% of its share capital. Consequently, MSSSPL ceased to be a subsidiary of the company.

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.