M&M raises Rs 475 crore on private placement basis

Mahindra & Mahindra (M&M) has received approval for issuance and offer of 4,750 Rated, Listed, Unsecured, Redeemable, 7.57% Non-Convertible Debentures (NCDs) of face value Rs 10,00,000 each, at par, aggregating to Rs 475 crore on private placement basis. The Loans & Investment Committee at its meeting held on September 26, 2016, has approved for the same.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.