Mahindra & Mahindra Financial Services Limited allots 61,77,64,960 Equity Shares on rights basis

Pursuant to the finalisation of the basis of allotment of the Issue, in consultation with the designated stock exchange, BSE Limited, the Rights Issue Committee of Mahindra & Mahindra Financial Services Limited ('Company'), at its meeting held today, i.e., 17th August, 2020, considered and approved the allotment of 61,77,64,960 Equity Shares at a price of Rs. 50 per Equity Share (including a premium of Rs. 48 per Equity Share)('Allotment').

Pursuant to the Allotment, the paid-up equity share capital of the Company stands increased from 61,77,64,960 Equity Shares to 123,55,29,920 Equity Shares. Further, the percentage of shareholding of Mahindra & Mahindra Limited, the holding company, ("the Promoter") stands increased from 51.19% to 52.16%.

Shares of MAHINDRA & MAHINDRA FINANCIAL SERVICES LTD. was last trading in BSE at Rs.133.55 as compared to the previous close of Rs. 133.05. The total number of shares traded during the day was 361078 in over 4611 trades.

The stock hit an intraday high of Rs. 136.4 and intraday low of 132.7. The net turnover during the day was Rs. 48462887.

Source : Equity Bulls

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