Homegrown auto major Mahindra & Mahindra on Wednesday said it had increased stake in its South Korean arm Ssangyong Motor Company to 74.65% with subscription of additional shares worth Rs 316.5 crore. In response to offer of shares made by Ssangyong Motor Company, the company has agreed to subscribe to 1,18,90,606 equity shares of SYMC, M&M said in a regulatory filing. The subscription has been done at a price of KRW (South Korean won) 4,205 per equity share aggregating KRW 50 billion, equivalent to around Rs 316.5 crore, it added.