MAHINDRA & MAHINDRA LTD. Corporate Governance 203 12. Shareholders holding more than 1% of the shares as on 31st March, 2025 The details of Public shareholders holding more than 1% (PAN-based) of the equity as on 31st March, 2025 are as follows: Name of the Shareholders % of Shareholding No. of shares held UTI Ni y 50 ETF* 1.39% 1,73,23,360 SBI Ni y 50 ETF* 4,25,07,776 3.42% Axis Mutual Fund Trustee Limited A/c Axis Mutual Fund A/c Axis Bluechip Fund* 1,28,00,164 1.03% 2,16,55,661 1.74% NPS Trust- A/C HDFC Pension Management Limited Scheme E - TIER I* 8,84,69,169 7.11% Life Insurance Corporation of India* ICICI Prudential Bluechip Fund with SUB Accounts 1,80,14,274 1.45% HDFC Trustee Company Ltd. A/C HDFC Balanced Advantage Fund* 1,36,21,499 1.10% SBI Life Insurance Co. Ltd 1,33,88,621 1.08% Government Pension Fund Global 1,45,23,835 1.17% Government of Singapore 2,33,97,501 1.88% First Sentier Investors ICVC - Stewart Investors Asia Pacific Leaders Sustainability Fund 2,00,46,612 1.61% * including sub-accounts 13. Dematerialisation of Shares and Liquidity 99.74% 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, 2025. 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, 2025 is around 81.86% and the stock is highly liquid. 2023 2024 2025 Dematerialized Physical 99.74% 0.26% 99.67% 0.33% 99.72% 0.28% 14. Outstanding GDRs/ADRs/Warrants or any Convertible Instruments, Conversion date and likely impact on Equity 2,10,23,010 GDRs constituting 1.69% of the paid-up Equity Share Capital were outstanding as on 31st March, 2025. 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, 2025. 11. Category-wise shareholding as of 31st March, 2025 18.14% Promoter and Promoter Group 4.47% Others 11.46% Insurance Companies 7.93% Resident Individual Shareholders 37.66% Foreign Portfolio Investors (including FIIs) 15.11% Mutual Funds 1.69% GDR Holders 3.54% Employee Benefit Trusts Note: Resident Individual Shareholders mentioned above exclude Key Managerial Personnel, Non Independent Directors and their relative(s).
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