Mahindra & Mahindra, the country's largest utility vehicles maker, said on Thursday its board has approved divestment of up to 8.09% stake held in unit Mahindra Holidays & Resorts India.
The divestment would be in one or more tranches by June 2013, it said in a statement.
At present, Mahindra & Mahindra holds 83.09% stake in Mahindra Holidays.