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The issue size of Rs 3,000 crore contains base issue of upto Rs 500 crore and green shoe of upto Rs 2,500 crore.
These secured, rated, listed, redeemable NCDs having face value of Rs 1 lakh per debenture, and a coupon rate of 8.25% p.a. will be issued on a private placement basis.
The NCDs will be allotted on 29 January 2024 and it will be redeemed on 25 March 2027. The debentures are proposed to be listed on ‘Wholesale Debt Market Segment’ of BSE.
The tenure of the instrument is 3 years & 55 years from the Deemed Date of Allotment. The date of allotment is 29th January 2024 and date of maturity is 25th March 2027.
Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 8.4 million customers and has an AUM of over $11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits.
The company's net profit tumbled 35.55% to Rs 994.10 crore in Q2 FY24 as against Rs 733.34 crore posted in Q2 FY23. However, total income increased 34% year on year to Rs 6,548.20 crore in the quarter ended 30 September 2023.
The scrip rose 0.98% to currently trade at Rs 273.45 on the BSE.
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