Mahindra Finance board approves allotment of debt securities worth Rs275 crore

23 Aug 2022 , 01:31 PM

Mahindra & Mahindra Financial Services Ltd (Mahindra Finance) has informed that a meeting of the Committee of Directors, as authorized by the Board of Directors of the Company, was held today, i.e. on Tuesday, August 23, 2022 wherein the Committee has approved the allotment of 2,750 Secured Redeemable Non-Convertible Debentures at a Fixed Coupon of 7.4601% p.a. (“NCDs”) of the face value of Rs10,00,000 each, aggregating to Rs275 crore, through private placement.

According to the filing, the tenure of the issue is 1 year and 306 days from the date of allotment i.e. August 23, 2022.

Date of maturity is June 24, 2024, the company informed in a regulatory filng.

At around 1:29 PM, Mahindra & Mahindra Financial Services Ltd is currently trading at Rs191.70 per share up by Rs0.95 or 0.5% from its previous closing of Rs190.75 per share on the BSE.