Mahindra & Mahindra Financial Services Ltd has informed that the Company has allotted 70,00,000 Equity Shares of Rs 10 each to TPG - Axon (Mauritius) II Ltd and 39,00,000 Equity Shares of Rs 10 each to Standard Chartered Private Equity (Mauritius) Ltd on February 28, 2008, on a Preferential Allotment basis. Pursuant to this Preferential Allotment, the paid-up share capital of the Company stands increased from 86,000,525 Equity Shares to 96,900,525 equity Shares.
As a consequence of the increase in the paid-up capital of the Company, the percentage shareholding of the Promoters, Mahindra & Mahindra Ltd stands reduced from 67.72% to 60.10%.
As a consequence of the increase in the paid-up capital of the Company, the percentage shareholding of the Promoters, Mahindra & Mahindra Ltd stands reduced from 67.72% to 60.10%.
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