Mahindra & Mahindra Limited has informed the Exchange regarding Outcome of Board Meeting held on July 11, 2025.
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Mahindra & Mahindra's board approved investing up to Rs. 750 Crores in the proposed rights issue of its listed subsidiary Mahindra Logistics Limited (MLL), a third-party logistics company. M&M will subscribe to its full rights entitlement and also pick up any additional or unsubscribed shares up to the full issue size, effectively acting as a strong backstop for the fundraise. MLL reported a consolidated revenue of Rs. 6,104.83 Crores and net worth of Rs. 460.90 Crores for FY25. Separately, interim Company Secretary Ms. Divya Mascarenhas will step down effective close of July 15, 2025, and Mr. Sailesh Kumar Daga, a 30-year veteran previously at Grasim Industries (Aditya Birla Group), will take over as Company Secretary and Compliance Officer from July 16, 2025.
The commitment to backstop MLL's Rs. 750 Cr rights issue signals strong parental support and reduces the risk of the issue being undersubscribed, which is positive for MLL shareholders. The Company Secretary transition is a routine governance change bringing in a senior, experienced compliance professional.