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Nov 16, 2012, 07.42 PM IST | Source: Moneycontrol.com

M&M Financial allots 9.75 cr shares to QIB

M&M Financial allots 9.75 cr shares to QIB

Mahindra & Mahindra Financial Services Ltd has informed BSE that the Company has allotted 97,50,257 Equity Shares of Rs. 10 each to Qualified Institutional Buyers under the Qualified Institutions Placement today, viz., November 16, 2012. Pursuant to this allotment, the paid-up share capital of the Company stands increased from 10,40,02,735 Equity Shares to 11,37,52,992 Equity Shares.As a consequence of the increase in the paid-up share capital of the Company, the percentage shareholding of the Promoter - Mahindra & Mahindra Limited stands reduced from 56.00% to 51.20% and the percentage shareholding of the Promoter Group - Mr. Ramesh Iyer and Mr. V. Ravi, Trustees of the Mahindra & Mahindra Financial Services Limited Employees' Stock Option Trust stands reduced from 1.18 % to 1.08%.Source : BSE

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