M&M To Fully Back ₹7.5 Billion Rights Issue Of Mahindra Logistics

Mahindra & Mahindra Ltd. on Friday said its board has approved subscribing to the equity shares offered by its subsidiary Mahindra Logistics Ltd. through a ₹7.5 billion rights issue. The company also plans to subscribe to additional and any unsubscribed portion of the issue, it said in an exchange filing.

Separately, the board approved the appointment of Sailesh Daga as the company secretary with effect from July 16, replacing Divya Mascarenhas, who was holding the role on an interim basis.