Tech Mahindra raises Rs 600 crores through NCD issue

Tech Mahindra Ltd has announced that the Company on April 17, 2009 has allotted 6000, 10.25% p.a. Non Convertible Debentures (NCDs) of the face value of Rs 10 Lakhs each aggregating to Rs 600 Crores. The said instrument has been assigned a 'CARE AAA' rating by Credit Analysis and Research Ltd (CARE).

The stock closed on Friday at Rs.334.85, down by Rs.14.90 or 4.26%. The stock hit an intraday high of Rs.360 and low of Rs.329.

The total traded quantity was 405767 compared to 2 week average of 1004311.

Source : Equity Bulls

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