Mahindra & Mahindra Financial Services (Mahindra Finance) has raised Rs 405.62 crore through the allotment of 40,000 Unsecured, Redeemable Subordinated (Tier II) Non-convertible Debentures (NCDs) of the face value of Rs 1,00,000 per debenture issued at a premium of Rs 377.50 and accrued interest of Rs 1026.63 per debenture on private placement basis to the identified investors. The said NCDs have been issued at a Fixed Coupon of 8.35% p.a. with effective yield (XIRR) at 8.28% and are proposed to be listed on the Wholesale Debt Market Segment of BSE. The Committee of Directors, as authorized by the Board of Directors of the Company, at their meeting held on March 1, 2024 has approved allotment of the same.
Mahindra Finance is one of India’s leading non-banking finance companies.
