Mahindra & Mahindra Ltd.
BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3129.15
43.90 (1.42%) M&M’s arm sells entire stake in Merakisan
Date: 08-09-2022Mahindra & Mahindra’s (M&M) subsidiary -- Mahindra Agri Solutions (MASL) has sold its entire stake aggregating 91.59% of the paid-up Equity Share Capital in Merakisan (MKPL), a subsidiary of MASL, to the founder and promoter of MKPL i.e. Prashant Patil.
Accordingly the shareholding of MASL in MKPL has become 'Nil' and MKPL has ceased to be a subsidiary of MASL and of the Company with effect from September 7, 2022
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.