Mahindra and Mahindra on Thursday allotted 3,36,287 ordinary shares worth Rs 16,81,435 to shareholders of Mahindra Electric Mobility Limited that was merged with the company from February 2. In an exchange filing, the company said that the shares were allotted to shareholders whose names appeared in the register of members on the record date.
The shares were allotted in the ratio of 480 equity shares of a face value of Rs 5 each, fully paid up, for every 10,000 shares of a face value of Rs 10 each, fully paid up, held in the MEML.
The abovementioned shares would be listed on the BSE and NSE.
The allocation was done in accordance with the order of the National Company Law Tribunal, Mumbai Branch, in the matter of the scheme of merger by absorption of MEML with the company.
Mahindra and Mahindra shares
The shares of Mahindra and Mahindra on Friday at 10:37 am were at Rs 1,296, down by 1.37 per cent.
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