M&M shares in focus on incorporation of new step-down subsidiary
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Shares of Mahindra & Mahindra (M&M) are likely to remain in focus in today’s session as the company announced that its subsidiary Mahindra Susten (MSPL) has further incorporated a new subsidiary Ultrogen Hybren. “With reference to the captioned subject, we would like to inform you that Ultrogen Hybren Private Limited (“Ultrogen Hybren”) has been incorporated in Mumbai, Maharashtra on 29th December, 2024, as a wholly owned subsidiary of Mahindra Susten Private Limited (“MSPL”), which is a subsidiary of Mahindra Holdings Limited (“MHL”), which in turn is a wholly owned subsidiary of the Company,” said the company in an exchange filing. M&M informed that it received an intimation from MSPL on December 29 that the certificate of incorporation of Ultrogen Hybren has been issued by the Ministry of Corporate Affairs. Ultrogen Hybren's authorized and paid-up share capital consists of Rs 15,00,000, divided into 1,50,000 equity shar...