The M&M Benefit Trust was created in July 2008. The trust holds 103.6 million shares of the firm. “As the Benefit Trust holds M&M shares for the benefit of its shareholders, it has decided to monetize part of the holding by divesting to a long-term, high-quality investor. Post the transaction, the M&M Benefit Trust will hold 84.4 million shares, representing 6.8% of the equity capital of the company. On Monday, shares of Mahindra & Mahindra closed at ₹653.9 per share, up 1.05% on BSE, while the benchmark Sensex closed at 40,267.62 points, up 1.39%.

Source: Mint June 03, 2019 13:14 UTC