Promoter M&M sells entire stake in Mahindra CIE Automotive via bulk deal

Mahindra and Mahindra has sold its entire 3.2% stake in its subsidiary, Mahindra Automotive CIE, via open market transactions, for approximately INR 542 crore. The buyers for the stake are unclear. Mahindra CIE Automotive designs, manufactures, installs and repairs automotive components. Following the bulk deal, shares in the automative component supplier rose 4.55%.

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