MMFSL hikes FII investment limit to 35%
Mahindra and Mahindra Financial Services Ltd on Monday said it has approved the increase in foreign institutional investor limits to 35 per cent from the existing 24 per cent of the paid-up equity share capital of the company.
By PTI |
MUMBAI: Mahindra and Mahindra Financial Services Ltd on Monday said it has approved the increase in foreign institutional investor limits to 35 per cent from the existing 24 per cent of the paid-up equity share capital of the company.
The 16th annual general meeting took a decision in this regard at its meeting, the company, belonging to Mahindra and Mahindra Group, informed the stock exchanges.
The AGM also resolved to re-appoint Ramesh Iyer as managing director for 5 years with effect from April 30, it said.
The company had recently tied up with Maruti Udyog Ltd to provide retail finance for Maruti vehicles.
MMFSL would use MUL's dealer network and its service mark, Maruti Finance, to market its auto loans.
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