annual-report-FY2020

329 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2019-20 15. Equity Share Capital Rupees crores Particulars 2020 2019 Authorised : 8,10,00,00,000 (2019: 8,10,00,00,000) Ordinary (Equity) Shares of Rs. 5 each...................................................... 4,050.00 4,050.00 25,00,000 Unclassified Shares of Rs. 100 each......................................................................................................... 25.00 25.00 4,075.00 4,075.00 Issued, Subscribed and Paid-up: 1,24,31,92,544 (2019: 1,24,31,92,544) Ordinary (Equity) Shares of Rs. 5 each fully paid up............................... 621.60 621.60 Less: 5,01,52,865 (2019: 5,16,05,412) Ordinary (Equity) Shares of Rs. 5 each fully paid up issued to M&M ESOP Trust but not yet allotted to employees.................................................................................................................. 25.08 25.80 Less: 8,44,70,428 (2019: 10,36,70,428) Ordinary (Equity) Shares of Rs. 5 each fully paid up issued to M&M Benefit Trust............................................................................................................................................................................. 42.24 51.84 Adjusted Issued, Subscribed and Paid-up................................................................................................................ 554.28 543.96 (a) Reconciliation of number of Ordinary (Equity) Shares and amount outstanding : Particulars 2020 2019 No. of Shares Rupees Crores No. of Shares Rupees Crores Issued, Subscribed and Paid-up : Balance as at the beginning of the year................................................ 1,24,31,92,544 621.60 1,24,31,92,544 621.60 Less : Shares issued to M&M ESOP Trust but not yet alloted to Employees... 5,01,52,865 25.08 5,16,05,412 25.80 Shares issued to M&M Benefit Trust....................................................... 8,44,70,428 42.24 10,36,70,428 51.84 Adjusted Issued,Subscribed and Paid-up Share Capital ........................ 1,10,85,69,251 554.28 1,08,79,16,704 543.96 M&M Benefit Trust has sold 1,92,00,000 shares to an external party for total consideration of Rs. 1,241.51 crores and the gain of Rs. 1,237.71 crores has been recognised in Retained earnings and a debit of Rs. 4.80 crores recognised in securities premium relating to the bonus shares issued to M&M Benefit Trust. (b) The Ordinary (Equity) Shares of the Company rank pari-passu in all respects including voting rights and entitlement to dividend. (c) Details of Ordinary (Equity) Shares held by shareholders holding more than 5% of the aggregate shares in the Company’s Issued, Subscribed and Paid-up: Name of the Shareholder 2020 2019 No. of Shares % Shareholding No. of Shares % Shareholding Prudential Management & Services Private Limited.............................. 14,15,21,940 11.38 14,15,21,940 11.38 Life Insurance Corporation of India........................................................ 13,42,61,077 10.80 12,32,82,698 9.92 M&M Benefit Trust.................................................................................... 8,44,70,428 6.79 10,36,70,428 8.34 J.P. Morgan Chase Bank, N.A. (for GDR holders)................................... 6,21,89,746 5.00 6,17,40,932 4.97 (d) For the period of preceding five years as on the balance sheet date, Issued, Subscribed and Paid-up share capital includes: i) Aggregate of 5,03,888 (2019 : 5,03,888) Ordinary (Equity) Shares of Rs. 5 each allotted as fully paid-up pursuant to Schemes of Arrangement without payment having been received in cash. ii) Aggregate of 62,15,96,272 (2019 : 62,15,96,272) Ordinary (Equity) Shares of Rs. 5 each allotted as fully paid-up by way of bonus shares. 16. Other Equity Rupees crores Details of Dividends proposed 2020 2019 Proposed Dividend per equity share (Rs.) .............................................................................................................. 2.35 8.50 The Union Budget 2020-21 has abolished Dividend Distribution Tax (DDT) payable by the Company on dividends declared on or after 1 April 2020.