M&M Financial Services is currently trading at Rs. 1005.20, up by 12.40 points or 1.25% from its previous closing of Rs. 992.80 on the BSE.
The scrip opened at Rs. 999.85 and has touched a high and low of Rs. 1016.85 and Rs. 999.85 respectively. So far 8224 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1024.65 on 15-Nov-2012 and a 52 week low of Rs. 590.10 on 28-Dec-2011.
Last one week high and low of the scrip stood at Rs. 1024.65 and Rs. 925.05 respectively. The current market cap of the company is Rs. 10479.32 crore.
The promoters holding in the company stood at 57.20% while Institutions and Non-Institutions held 38.21% and 4.59% respectively.
Mahindra & Mahindra Financial Services received an overwhelming response for its qualified institutional placement (QIP) issue which getting oversubscribed by 5 times, raised Rs 867 crore, thereby making the issue one of the most successful share sales in recent times.
Finance arm of auto major M&M issued 97,50,257 equity shares at Rs 889 a share, at par with its market price of November 7, which was the launch date of the issue. The market regulator had set a floor price of Rs 880.70 per share.
The capital infusion, which takes the Tier-I capital adequacy to over 20% from the earlier 14%, is expected to suffice the company for the next two years. Meanwhile, the promoter holding in the company gets reduced to 51.2% post-issue from the earlier levels of over 56%.
MMFSL is a subsidiary of Mahindra & Mahindra (M&M). It provides finance for purchase of utility vehicles (UV), tractors and cars, two/ three-wheeler, refinance, commercial vehicle, construction equipments and home loans.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 919.25 |
| Shriram Finance | 1045.00 |
| Aditya Birla Capital | 341.95 |
| Chola Invest & Fin. | 1572.25 |
| Tata Capital | 334.45 |
| View more.. | |
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