Mahindra & Mahindra Financial Services (Mahindra Finance) has raised Rs 407 crore through allotment of 4,070 Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) at a fixed coupon of 8.10% p.a. (Series AI2022) of the face value of Rs 10,00,000 each through private placement.
The company has also raised Rs 144.39 crore through allotment of 1,750 Zero Coupon NCDs (Series AJ2022) of the face value of Rs. 10,00,000 each, issued at discount of Rs. 1,74,938 per debenture, aggregating to issue size of Rs 175 crore.
Mahindra Finance is one of India’s leading non-banking finance companies.
