Symbol M&MFIN
Company Mahindra & Mahindra Financial Services Limited
Industry Finance

Broadcast Date/Time 20-Aug-2019 11:37
Subject Acquisition
Announcement Mahindra & Mahindra Financial Services Limited has informed the Exchange about Acquisition of Ideal Finance Limited (Sri Lanka) [??Ideal Finance??]. The Company has signed a ??Share Subscription, Share Purchase and Shareholders?? Agreement?? with Ideal Finance Limited (Sri Lanka) [??Ideal Finance??] and its existing Shareholders and has agreed to subscribe/acquire up to 58.20% of the Equity Share Capital of Ideal Finance, in one or more tranches, for an amount not exceeding LKR 200.30 crores. Upon acquisition of the above stake, Ideal Finance will become a subsidiary of the Company.
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