Loan & Debt19 May 2026, 01:15 pm
M&M Financial Allots ₹2200 Cr NCDs
AI Summary
Mahindra & Mahindra Financial Services Ltd has allotted 2,20,000 secured, rated, floating, listed redeemable non-convertible debentures with a face value of ₹1,00,000 each, aggregating to ₹2200 Crore, on a private placement basis. This includes a base issue of ₹2000 Crore and a green shoe subscription of ₹200 Crore. The NCDs have a floating coupon of (3MTBILL+2.10% Spread) p.a., payable annually and subject to quarterly reset, and are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited. The allotment date is May 19, 2026, and the maturity date is May 18, 2029.
Key Highlights
- M&M Financial allots 2,20,000 NCDs aggregating to ₹2200 Crore.
- NCDs issued at a floating coupon rate of (3MTBILL+2.10% Spread) p.a.
- NCDs are secured, rated, floating, listed, and redeemable.
- The NCDs will be listed on the Wholesale Debt Market Segment of BSE.
- Maturity date for the NCDs is May 18, 2029.