Shares of Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) climbed nearly 3% to ₹264.15 in Friday’s early trade, following a key leadership update. The stock was up 2.54%, adding ₹6.55 from its previous close of ₹257.60. With this move, the company’s market capitalization stood at ₹325.81 billion.
In a regulatory filing dated April 10, 2025, Mahindra Finance announced the withdrawal of the appointment of Ramganesh Iyer as Chief Operating Officer (COO). The decision was made by mutual agreement between both parties. The company had previously announced Iyer’s appointment on March 24, 2025, but has now decided not to move forward with the onboarding. No reasons were disclosed for the change, and there is currently no update on a replacement for the COO role.
Ramganesh Iyer, an experienced professional with over 20 years in the financial services industry, had served as a Partner at Bain & Company, leading major strategy and transformation projects for financial institutions and fintechs. Before his consulting stint, he co-founded two wealth-tech ventures — Fisdom and PARK Financial Advisors. Iyer is also recognized for his thought leadership in personal finance and fintech evolution in India.
Despite the leadership update, the stock reacted positively, indicating investor confidence remains intact amid broader market trends and sectoral resilience.
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