Mahindra & Mahindra Limited has informed the Exchange regarding Cessation of Ms. Divya Mascarenhas as Company Secretary & Compliance Officer of the company w.e.f. close of 15th July, 2025.
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Mahindra & Mahindra's board, at its meeting on 11th July 2025, approved investing in the proposed Rights Issue of its listed subsidiary Mahindra Logistics Limited (MLL), which plans to raise up to Rs. 750 Crores. M&M will subscribe to its full rights entitlement and may also pick up additional shares and any unsubscribed portion, effectively backing the full issue size. MLL reported consolidated revenue of Rs. 6,104.83 Crores and net worth of Rs. 460.90 Crores for FY25. Separately, Ms. Divya Mascarenhas will cease as Interim Company Secretary and Compliance Officer from close of 15th July 2025. Mr. Sailesh Kumar Daga, an experienced company secretary and finance professional with about 30 years of experience (last with Grasim Industries / Aditya Birla Group), will take over as Company Secretary and Compliance Officer from 16th July 2025.
The MLL Rights Issue participation shows M&M's continued financial backing of its logistics subsidiary, which may limit public float and dilute MLL minority shareholders if M&M absorbs most of the issue. The Company Secretary transition appears orderly, with a seasoned external hire replacing an interim appointee, and is unlikely to materially affect the stock.