Mahindra & Mahindra Ltd.

BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3178.65
58.20 (1.87%)
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M&M’s arm incorporates subsidiary company in Australia

Date: 01-08-2018

Mahindra & Mahindra’s (M&M) direct subsidiary -- Ssangyong Motor Company has incorporated a subsidiary company namely ‘SsangYong Australia Pty’ in Australia, on July 31, 2018. SsangYong Australia Pty is incorporated to sell SsangYong vehicles & vehicle parts in Australia.

Ssangyong Motor Company has subscribed to 10 ordinary Equity shares of 1 Australian dollar each, aggregating to 10 Australian dollar. The company will hold 100% shareholding in SsangYong Australia Pty.

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.