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M&M to invest up to ₹1,450 crore in SML Mahindra's proposed rights issue

Reported by: CNBC TV18 ·

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Mahindra & MahindraSML Mahindra

Summary

CNBC TV18 reported that M&M will put up to ₹1,450 crore into a proposed rights issue by SML Mahindra. Of this, ₹855 crore is to subscribe to M&M's full rights entitlement, and up to ₹595 crore is for additional shares or any part of the issue left unsubscribed. A rights issue is an offer of new shares to existing shareholders, usually at a set ratio and price, and a shareholder's entitlement is its share of that offer. The headline does not give the issue size, the price per share or the record date. The report also does not say what SML Mahindra does or how the money will be used.

AI summary of what CNBC TV18 reported. AI can make mistakes. Read the full story on CNBC TV18

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CNBC TV18  · · Tone 0

M&M to invest up to ₹1,450 crore in SML Mahindra's proposed rights issue

The investment includes ₹855 crore to subscribe to its full rights entitlement and up to ₹595 crore for additional shares or any unsubscribed portion of the issue.

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