Mahindra Family to Sell ‘Small’ Portion of Stake in Automaker
Robotic arms assemble a car on the production line at Mahindra & Mahindra’s facility in Maharashtra.
Photographer: Udit Kulshrestha/BloombergThis article is for subscribers only.
The family of the founder of Indian car and tractor maker Mahindra & Mahindra Ltd. will sell a “small” number of shares in the company for liquidity purposes.
The stake will be sold by Prudential Management and Services Pvt., the entity that holds the family’s stake, Mahindra said in an exchange filing Thursday. The liquidity is for “specific needs,” the filing said, without giving further details.