Board Meeting24 Apr 2026, 06:12 pm
M&M Financial Services: Borrowing Limit Increased to ₹1.75 Lakh Cr
AI Summary
Mahindra & Mahindra Financial Services Ltd's board approved increasing the aggregate borrowing limits from ₹1,50,000 Crore to ₹1,75,000 Crore under Section 180(1)(c) of the Companies Act 2013, including fund raises via NCDs. The board also approved the appointment of Krishna Kumar Sukumaran Nair as an Additional Director (Non-Executive and Non-Independent) effective June 23, 2026, representing LIC. The 36th AGM will be held on July 21, 2026, to seek shareholder approval for these matters.
Key Highlights
- Borrowing limits increased to ₹1,75,000 Crore, subject to shareholder approval.
- Krishna Kumar Sukumaran Nair appointed as Additional Director, representing LIC.
- 36th AGM scheduled for July 21, 2026, to approve key proposals.
- Board approved changes in Senior Management Personnel.
- NCD issuance sub-limit remains unchanged at ₹65,000 crore.