Mahindra & Mahindra share price declines 6%: Plans investment in rights issue of listed subsidiaries

Stock Market Today: Mahindra & Mahindra share price declined more than 6% in morning trades on Friday. The company announces ₹4500 Crore rights issue plans for subsidiaries Mahindra & Mahindra Financial Services and Mahindra Lifespace Developers to which it will be subscribing

Mahindra & Mahindra share price movement

Mahindra & Mahindra share price that opened at ₹2820 on the BSE on Friday, slightly lower than the previous closing price of ₹2840. The Mahindra & Mahindra share price however slipped further to intraday lows of ₹2653.25, marking a decline of more than 6% during the intraday trades on Friday.

Mahindra & Mahindra share price that has been correcting from its 1 year high or 52 week highs of ₹3276.30 seen in February 2025 with sharp correction in the markets. However Mahindra & Mahindra share price saw significant downward pressure on Friday

M&M Rights issue announcements and investment plans

Mahindra & Mahindra on 20 February post market hours announced plans of Investment in the Proposed Rights Issue of Mahindra & Mahindra Financial Services Limited and Mahindra Lifespace Developers Limited, Listed Subsidiaries of the Company

Mahidra & Mahindra on 13th February, 2025, announced about the approval by the Board of Directors of Mahindra & Mahindra Financial Services Limited, a listed subsidiary of the Company for fund raising of an amount not exceeding Rs. 3,000 Crores (Rupees Three Thousand Crores) through a Rights Issue of Equity Shares

Approval by the Board of Directors of Mahindra Lifespace Developers Limited, a listed subsidiary of the Company for fund raising of an amount not exceeding Rs. 1,500 Crores (Rupees One Thousand Five Hundred Crores) through a Rights Issue of Equity Shares.

Mahindra and Mahindra in its release on 20 February announced that the Board of Directors of the Company at its Meeting has accorded its approval, s

➢ To subscribe to the Equity Shares of Mahindra & Mahindra Financial Services Ltd and Mahindra Lifespace Developers Limited to the full extent of the Company’s Rights Entitlement

To subscribe to Additional Shares as well as to any Unsubscribed portion of the Rights Issue(s) upto the total issue size;