Mahindra & Mahindra Ltd to Subscribe to Rights Issue of Equity Shares in Mahindra & Mahindra Financial Services Limited for up to INR 2996 Crores

Mahindra & Mahindra Ltd has announced its decision to subscribe to the Rights Issue of Equity Shares in its listed subsidiary, Mahindra & Mahindra Financial Services Limited (MMFSL). The Board of MMFSL has approved the Rights Issue of Equity Shares of the face value of Rs. 2/- each at an Issue Price of Rs. 194/- per fully paid up Equity Share (including premium of Rs. 192/- per fully paid up Equity share) for an aggregate amount not exceeding Rs. 2996,16,00,560 (Rupees Two Thousand Nine Hundred Ninety-six Crore Sixteen Lakh Five Hundred Sixty only) assuming full subscription. The entire Issue Price will be payable at the time of making the application in the Issue. Mahindra & Mahindra Ltd has approved to subscribe to the Equity Shares of MMFSL to the full extent of the Company’s Rights Entitlement at a price of Rs. 194/- per fully paid up Equity Share (including premium of Rs. 192/- per fully paid up Equity share) and to subscribe to additional shares as well as to any unsubscribed portion of the Rights Issue upto the total Issue size of MMFSL subject to compliance of applicable laws including the Minimum Public Shareholding requirements under the Securities Contract (Regulation) Rules, 1957 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.