Mahindra & Mahindra sells 22% stake in Mahindra Sanyo Special Steel

Capital Market 

For consideration of Rs 146.32

has completed sale of 26,36,401 Equity Shares of Rs.10 each held by the Company in Special Steel (MSSSPL), aggregating to 22% of the paid-up Equity Capital of MSSSPL, to Special Steel Co., for a consideration of Rs.146.32 crore.

With this, the company's shareholding in MSSSPL has come down from 51% to 29% of its capital. Consequently, MSSSPL ceased to be a subsidiary of the Company.

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First Published: Fri, June 22 2018. 09:10 IST