**Mahindra & Mahindra to Fully Back ₹750 Cr Rights Issue of Mahindra Logistics**

In a strategic move to bolster its logistics arm, **Mahindra & Mahindra Ltd (M\&M)** announced its Board's approval to fully participate in the proposed ₹750 crore rights issue of **Mahindra Logistics Ltd (MLL)**, a listed subsidiary. The company also expressed willingness to subscribe to any **unsubscribed portion**, signaling strong backing and confidence in MLL’s growth trajectory. MLL, a prominent third-party logistics provider in India, clocked a consolidated revenue of ₹6,105 crore in FY25. This fundraising is aimed at enhancing the company’s supply chain capabilities and enterprise mobility solutions. M\&M clarified that though MLL is a related party, this investment does **not fall under Related Party Transactions** as per SEBI rules, since M\&M already holds a substantial stake. Additionally, the Board approved a key leadership change: **Mr. Sailesh Kumar Daga** will replace **Ms. Divya Mascarenhas** as Company Secretary and Compliance Officer effective **16 July 2025**. Mr. Daga brings nearly **30 years of experience**, with notable stints at Aditya Birla Group, Grasim, and Mumbai Metro One. This dual announcement underscores Mahindra Group’s focus on scaling its logistics vertical and strengthening corporate governance. 📍 *Symbol: M\&M | NSE: M\&M*