Prudential Management's holding in Mahindra goes up to 11.4%

Prudential Management's holding in Mahindra goes up to 11.4% New Delhi: Auto major Mahindra & Mahindra on Monday said holding of one of its promoter group firms Prudential Management & Services (PMS) has increased to 11.40 percent following consolidation of other promoter entities.

In a filing to the BSE, Mahindra & Mahindra (M&M) said 5,40,59,930 equity shares, representing 8.81 percent stake, were transferred to PMS from other promoter entities -- Corbel Estate & Investments, Andromeda Investment & Finance, Azrael Investments and Ridge Business Centre.

Corbel was merged with Andromeda, which later along with Ridge and Azrael was merged with PMS, it added.

With completion of the these amalgamations, the holding of PMS in M&M increased to 11.40 percent from 2.59 percent.

Shares of M&M on Monday closed trading 0.14 percent up at Rs 838.95 apiece on BSE.

PTI