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Mahindra & Mahindra (M&M)'s subsidiaries, Mahindra & Mahindra Financial Services Ltd (MMFSL) and Mahindra Lifespace Developers Ltd (MLDL), have received board approval to raise funds through rights issues. This means existing shareholders will have the opportunity to buy additional shares in proportion to their current holdings. ' MMFSL and MLDL, both part of the Mahindra Group, have received approvals from their boards to raise funds through rights issues. MMFSL plans to raise up to Rs 3,000 crore, while MLDL will target up to Rs 1,500 crore. M&M, as the parent company, has pledged to participate fully in both rights issues by subscribing to its full entitlement. M&M is also willing to purchase additional shares beyond its entitlement, potentially covering any shares that are not taken up by other investors, up to the total issue size. M&M said its board has delegated the authority to certain Principal Officers of the Company inter alia to take a final decision with respect to the Investment in the aforesaid Rights Issue(s) upon receipt of intimation from MMFSL and MLDL regarding the terms and conditions of the respective Rights Issue(s) including the Issue Price. M&M holds 51.15% in MLDL, a real estate developer, and 52.16% in MMFSL, a leading non-banking finance company. The Mahindra Group enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate. M&M reported a 19.06% jump in standalone net profit to Rs 2,964.31 crore in Q3 FY25 as compared with Rs 2,489.73 crore in Q3 FY24. Revenue from operations jumped 20.31% YoY to Rs 30,963.76 crore in Q3 FY25. Powered by Capital Market - Live News |