At meeting held on 12 June 2020
The Board of Mahindra & Mahindra at its meeting held on 12 June 2020 has accorded its in-principle approval, subject to compliance with applicable laws -To subscribe to the Equity Shares of Mahindra & Mahindra Financial Services (MMFSL) (subsidiary of the company) to the full extent of the Company's Rights Entitlement, and
To subscribe to Additional Shares as well as to any Unsubscribed portion of the Rights Issue, upto the total issue size of MMFSL,
and has further delegated the authority inter alia to a Committee of Directors to take a final decision with respect to the Investment in Rights Issue on receipt of intimation from MMFSL regarding the terms and conditions of the Rights Issue.
The Board of MMFSL has already approved fund raising of an amount not exceeding Rs. 3,500 crore through a Rights Issue.
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