M&M To Fully Subscribe To ₹30 Billion Rights Issue Of Financial Arm

Mahindra & Mahindra Ltd. on Thursday said it will subscribe to the entire rights entitlement of its subsidiary Mahindra & Mahindra Financial Services Ltd., and will also pick up any unsubscribed portion.

M&M will subscribe to the rights issue at ₹194 per share, it said in an exchange filing.

On May 2, the board of M&M Financial Services approved raising up to ₹30 billion through a rights issue to benefit from the Securities and Exchange Board of India's simplified rights issue regulations.