Mahindra & Mahindra Limited has informed the Exchange about Investment in the proposed Rights Issue of Mahindra Logistics Limited, a Listed Subsidiary of the Company
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The board of Mahindra & Mahindra approved investing in the proposed Rights Issue of its listed subsidiary Mahindra Logistics Limited (MLL), which is looking to raise up to Rs. 750 Crores. M&M will subscribe to its full Rights Entitlement and also to any additional or unsubscribed shares up to the total issue size, in cash. MLL is an integrated third-party logistics company with consolidated revenue of Rs. 6,104.83 Crores in FY25 and a net worth of Rs. 460.90 Crores. The board also cleared a change in Company Secretary — Ms. Divya Mascarenhas will step down from July 15, 2025, and Mr. Sailesh Kumar Daga (ex-Grasim Industries) will take over from July 16, 2025.
This signals M&M's strong commitment to supporting its subsidiary's capital needs and could strengthen its stake in MLL, though the Rs. 750 Crore size is small relative to M&M's overall scale. The company secretary change is a routine governance update with no material impact on shareholders.