News: Mahindra CIE in a regulatory exchange filing informed about promoters (CIE) buying ~1 crores share (2.7% stake) of Mahindra CIE in open market on May 12, 2022. Estimated transaction size is ~Rs.190-200 crore
Views: Post the stake purchase, CIE group holding in the company has increased to 63.44% vs. 60.74% earlier. This coupled with M&M stake in the company will take the total promoter holding to 74.9% vs. 72.2% earlier. This reaffirms promoters positive view on the company and its future prospects. It is structurally positive for the company in the long run
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