Mahindra & Mahindra Limited has informed the Exchange regarding Appointment of Mr. Sailesh Kumar Daga as Company Secretary & Compliance Officer of the company w.e.f. July 16, 2025.
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Mahindra & Mahindra's board, at its July 11, 2025 meeting, approved subscribing to the proposed rights issue of its listed subsidiary Mahindra Logistics Limited (MLL) of up to Rs. 750 Crores, including its full entitlement, additional shares, and any unsubscribed portion. MLL, an integrated third-party logistics service provider, reported consolidated revenue of Rs. 6,104.83 Crores for FY25. Separately, the board approved the cessation of Ms. Divya Mascarenhas as Interim Company Secretary effective close of July 15, 2025, and appointed Mr. Sailesh Kumar Daga as the new Company Secretary and Compliance Officer effective July 16, 2025. Mr. Daga joins from Grasim Industries (Aditya Birla Group) with around 30 years of experience in secretarial, legal, and finance functions.
The MLL rights issue investment reinforces M&M's commitment to its logistics subsidiary and may keep MLL firmly within the promoter group's control. The Company Secretary change is a routine KMP transition from an interim to a permanent appointee and is unlikely to have any material impact on shareholders or the stock.