M&M Financial raises Rs 1,250 crore via NCDs
In short
Mahindra & Mahindra Financial Services raised Rs 1,250 crore through non-convertible debentures. The issue had a base size of Rs 1,000 crore and a Rs 250 crore green shoe, and the coupon is 7.95% a year.
This matters because it gives the company fresh borrowing and adds debt paper for investors. The reporting does not say the maturity, allotment date, or use of the money.
What the reporting says
Mahindra & Mahindra Financial Services raised Rs 1,250 crore through NCDs, including a base issue of Rs 1,000 crore and a Rs 250 crore green shoe, according to Business Standard Markets. The NCDs carry a fixed coupon of 7.95% per annum and are proposed to be listed on the Wholesale Debt Market Segment of BSE. The reporting does not state the maturity, allotment date, or how the funds will be used.
Why it matters
Mahindra & Mahindra Financial Services raised Rs 1,250 crore through NCDs, made up of a Rs 1,000 crore base issue and a Rs 250 crore green shoe. The debentures carry a fixed coupon of 7.95% per annum and are proposed to be listed on the BSE Wholesale Debt Market Segment. The source does not state maturity, allotment timing, or the use of proceeds.