Mahindra & Mahindra Financial Services Limited raises Rs. 2275 crores through NCDs

The Committee of Directors of Mahindra & Mahindra Financial Services Limited have today approved the allotment of 2,27,500 Secured, Redeemable, Non-convertible Debentures ("NCDs") of the face value of Rs. 1,00,000 per debenture issued at a par, aggregating to subscription amount of Rs. 2,275 Crores on private placement basis to the identified investors. The said NCDs have been issued at a Fixed Coupon of 8.18% p.a. and are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 263.50 as compared to the previous close of Rs. 268.15. The total number of shares traded during the day was 262053 in over 3686 trades.

The stock hit an intraday high of Rs. 268.45 and intraday low of 260.90. The net turnover during the day was Rs. 69419640.00.

Source : Equity Bulls

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MahindraandMahindraFinancialServices INE774D01024 FundRaising NCDs