Printed By: Paras Yadav
Final Up to date: Could 25, 2023, 14:41 IST
Mahindra & Mahindra (M&M) on Wednesday stated it has bought its whole stake of three.19 % in Mahindra CIE Automotive for Rs 543 crore. The Mumbai-based firm has bought its whole stake comprising of 1,21,22,068 fairness shares representing 3.19 % of the paid-up share capital of CIE, the auto main stated in a regulatory submitting.
The sale has been executed on the inventory exchanges at a gross value of Rs 447.65 per share, it added. The shares of Mahindra CIE Automotive have been offloaded at 11 % low cost from Tuesday’s closing value of Rs 452.8, the automaker stated.
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Following the sale, the M&M’s shareholding in CIE has develop into nil, it stated. Mahindra CIE Automotive on Could 16, 2023 knowledgeable the inventory exchanges that its utility for change of identify from Mahindra CIE Automotive Restricted to CIE Automotive India Ltd has been accredited by the Centre.
On Wednesday, shares of the corporate settled 4.7 % up at Rs 474.10 apiece on the BSE.