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Mr Anand Mahindra sells entire stake in Mahindra Ugine Steel
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Thursday, 26 Jun 2014
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Press Trust of India reported that Mr Anand Mahindra chairman of Mahindra Ugine Steel sold all his 13,617 shares in the company for over INR 58 lakh.

Mr Mahindra sold 13,617 shares, or 0.04% in Mahindra Ugine Steel for INR 58,46,088 through open market on the Natioal Stock Exchange.

Following the transaction, Mr Mahindra has no shares in the Mahindra Ugine Steel, a speciality steel producer.

Mahindra Ugine Steel is a subsidiary of Mahindra CIE Automotive, earlier known as Mahindra Forgings. Shareholders of Mahindra CIE Automotive had on June 20 approved merger of five subsidiaries with itself including Mahindra Ugine Steel.

Mr Anand Mahindra started off at Mahindra in 1981 when he joined Mahindra Ugine Steel Comapany as executive assistant to the Finance Director. In 1989, he was appointed President and Deputy Managing Director of the company.

Source - press trust of India

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