Mahindra Stock Fells 8% As Promoters Plans To Sell Stake By Block Deal

As per the report of CNBC, Mahindra, and Mahindra Limited, an Indian multinational automotive manufacturing company has publicized that the company is planning to sell its stake.

Currently, Mahindra and Mahindra Limited hold a 9.25% stake in Mahindra CIE. The firm publicized that it will unload a 6.5% stake in Mahindra CIE by block deals.

It is anticipated that the deal size would be of value Rs 892.6 crore having an exchange of shares at a value of Rs 365 per share.