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New Delhi, Aug 14 (UNI) Utility vehicles manufacturer Mahindra&Mahindra Ltd today said it has alloted 34,310 ordinary (equity) shares, which will be available on the conversion of its Zero Coupon Foreign Currency Convertible Bonds (FCCBs).

This was decided at the board meeting held today.

The shares, alloted on the conversion option by the bondholder, will rank pari passu in all respects with the existing Ordinary (equity) shares of the company.

Mahindra&Mahindra, which is a part of the Mahindra Group, manufactures general-purpose utility vehicles, tractors and light commercial vehicles.

The company's business is divided into automotive, tractor, inter trade and MSL, and these divisions handle steel, trading and manufacturing of ash handling plants and travelling water screens.

M&M Ltd has seven state-of-the-art factories and 33 sales offices, supported by a network of more than 500 dealers throughout the country. It employs over 17,000 technical and non-technical personnel and is situated on an area of over 5,00,000 square meters.

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