Mahindra -; Mahindra informs about liquidation of Finnish subsidiary; Stocks trade higher

1 Apr 2022 , 10:15 AM

Mahindra & Mahindra Limited has received an intimation from Mahindra Holidays & Resorts India Limited, a listed subsidiary of the Company (MHRIL) informing that Suomen Vapaa-aikakiinteistöt Oy LKV, incorporated in Finland, which is a wholly owned subsidiary of Holiday Club Resorts Oy, Finland (HCR), which in turn is a wholly owned subsidiary of MHRIL and a subsidiary of the Company has been voluntarily liquidated and has ceased to be in existence with effect from March 30, 2022.

Pursuant to the above, Suomen has ceased to be a subsidiary of HCR, MHRIL and consequently, that of the Company with effect from March 30 2022.

At around 10.18 am, Mahindra Holidays & Resorts India Ltd was trading at Rs235.15 per share up by Rs5.25 or 2.28% from its previous closing of Rs229.90 per share on the BSE. 

Mahindra & Mahindra Ltd was trading at Rs817.80 per share up by Rs12 or 1.49% from its previous closing of Rs805.80 per share on the BSE.