Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) is all set to offload over 34.75 lakh shares, constituting 22.81 per cent of the paid-up capital, in Mahindra Sanyo Special Steel (MSSSPL), to Japan-based Sanyo Special Steel Co pursuant to exercise of a put option available to the company on Sanyo under the Shareholders’ Agreement. The consideration to be received from sale is Rs 211.99 crore. The expected date of completion of sale is around July, 2022.

Following the sale, the company’s holding in MSSSPL would become NIL and MSSSPL would cease to be an associate 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.