MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2023-24

CORPORATE GOVERNANCE 223 13. Category-wise shareholding as of 31st March, 2024 18.15% Promoter and Promoter Group 10.62% Insurance Companies 7.81% Resident Individual shareholders 4.19% Others 40.76% Foreign Portfolio Investors (including FIIs) 12.42% Mutual Funds 2.39% GDR Holders 3.66% Employee Benefit Trusts Note - Resident Individual shareholders mentioned above exclude Key Managerial Personnel, Non Independent Directors and their relative(s). 14. Shareholders holding more than 1% of the shares as on 31st March, 2024 The details of Public shareholders holding more than 1% (PAN-based) of the equity as on 31st March, 2024 are as follows: Vanguard Emerging Markets Stock Index Fund, A Series of Vanguard International Equity Index Funds Vanguard Total International Stock Index Fund Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Bluechip Fund* Kuwait Investment Authority Fund 601* UTI - Ni‡y Exchange Traded Fund* Government Pension Fund Global HDFC Trustee Company Limited - HDFC Flexi Cap Fund* First Sentier Investors ICVC - Stewart Investors Asia Pacific Leaders Sustainability Fund SBI Ni‡y 50 ETF* Life Insurance Corporation of India* 6.50% 8,07,98,548 4,57,37,098 2,73,98,928 2,55,03,702 1,99,80,158 1,70,92,384 1,60,07,218 1,50,18,889 1,30,08,431 1,32,52,432 1,28,85,093 1,25,55,068 3.68% 2.20% 2.05% 1.61% 1.37% 1.29% 1.21% 1.05% 1.07% 1.04% 1.01% Name of the Shareholders % of Share holding No. of shares held Government of Singapore NPS Trust- A/C HDFC Pension Management Company Ltd Scheme E - Tier I* * including sub-accounts 15. Dematerialisation of Shares and Liquidity 99.72% of the paid-up Ordinary (Equity) Share Capital of your Company is held in a dematerialised form with National Securities Depository Limited and Central Depository Services (India) Limited as on 31st March, 2024. The market lot of the Share of your Company is one Share, as the trading in the Equity Share of your Company is permitted only in dematerialised form. The Non-Promoters’ holding as on 31st March, 2024 is around 81.85% and the stock is highly liquid. 2022 99.59% 0.41% 99.67% 0.33% 2023 99.72% 0.28% 2024 Dematerialized Physical 16. Outstanding GDRs/ADRs/Warrants or any Convertible Instruments, Conversion date and likely impact on Equity 2,96,98,159 GDRs constituting 2.39% of the paid-up Equity Share Capital were outstanding as on 31st March, 2024. Since the underlying Ordinary (Equity) Shares represented by GDRs have been allotted in full, the outstanding GDRs have no impact on the Equity of the Company. There are no other convertible instruments outstanding as on 31st March, 2024.

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