Mahindra Finance Approves ₹1000 Cr NCD Issuance
Mahindra & Mahindra Financial Services Ltd announced the approval of its Debenture Issuance Committee for the offer and issuance of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The issuance will be up to ₹1,000 Crore, comprising a base issue of ₹500 Crore and a green shoe option of an additional ₹500 Crore. These NCDs will have a tenure of 3 years with a fixed coupon rate of 7.90% per annum, payable annually. The principal will be redeemed on maturity. The NCDs will be secured by an exclusive charge on the company's receivables, owned assets, and book debts. The issuance is scheduled to be listed on the Wholesale Debt Market Segment of BSE Limited.
Key Highlights
- Approved issuance of Secured, Rated, Listed NCDs via private placement.
- Total issuance size up to ₹1,000 Crore (₹500 Cr base + ₹500 Cr green shoe).
- Tenure of 3 years with a fixed coupon rate of 7.90% p.a.
- NCDs will be secured by charge on receivables, owned assets, and book debts.
- To be listed on the Wholesale Debt Market Segment of BSE Limited.
Price Impact
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