Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) is planning to raise funds by way of issuance of Securities including but not limited to secured/unsecured redeemable Non-convertible Debentures (NCDs) under Private Placement basis for an aggregate amount not exceeding Rs 5,000 crore. The meeting of the Board of Directors of the company will be held on May 29, 2018 to consider the same.

Besides, the shareholders of the company, at the last AGM held on August 04, 2017, had approved the same. Since the approval of the shareholders in case of offer or invitation for Non-convertible Debentures has a validity of one year in terms of Section 42 of the Companies Act, 2013 read with Rule 14 of the companies (Prospectus and Allotment of Securities) Rules, 2014, it is proposed to seek fresh approval from shareholders by way of a Special Resolution at the ensuing AGM.

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.