English
Specials
    Premium
    My Alerts
    MoneycontrolGo PRO @₹99
    Moneycontrol PRO
    Check Credit Score
    Check Credit Score
    HomeNewsBusiness

    M&M board approves stake sale in Mahindra Logistics

    Mahindra & Mahindra (M&M) on Tuesday said its board has approved the sale of a part of shareholding in its arm Mahindra Logistics.

    June 13, 2017 / 10:15 PM IST
    A worker stands in front of a nameplate of Mahindra and Mahindra in Mumbai April 13, 2009. Indian mid-sized IT outsourcer Tech Mahindra, a joint venture between British Telecom and the Indian conglomerate Mahindra & Mahindra, won an auction to buy Satyam Computer Services Ltd , the company at the heart of India's biggest corporate scandal. REUTERS/Arko Datta (INDIA BUSINESS) - RTXDXYE

    A worker stands in front of a nameplate of Mahindra and Mahindra in Mumbai April 13, 2009. Indian mid-sized IT outsourcer Tech Mahindra, a joint venture between British Telecom and the Indian conglomerate Mahindra & Mahindra, won an auction to buy Satyam Computer Services Ltd , the company at the heart of India's biggest corporate scandal. REUTERS/Arko Datta (INDIA BUSINESS) - RTXDXYE

    Mahindra & Mahindra (M&M) on Tuesday said its board has approved the sale of a part of shareholding in its arm Mahindra Logistics.

    The company's board, which met on Tuesday, has approved sales of a part of its shareholding in Mahindra Logistics Ltd (MLL), a subsidiary of the company, as part of the proposed initial public offering of MLL, M&M said in a regulatory filing.

    The size of the stake sale, price and other details of the IPO will be determined in due course by a committee of directors, it added.

    Shares of M&M ended 0.49 percent down at Rs 1,417.35 on BSE.

    Tags: #Business #Companies #India
    first published: Jun 13, 2017 10:14 pm

    Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347