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The company will issue 2,50,000 secured, rated, listed, redeemable non-convertible debenture at a face value of Rs 1 lakh each aggregating to Rs 2,000 crore with green shoe option of Rs 500 crore.
The said debenture will be mature in 5 years from the deemed date of allotment, 31 May 2024.
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 10 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 NBFC’s standalone net profit declined 9.52% to Rs 618.99 crore in Q4 FY24 as against Rs 684.12 crore reported in Q4 FY23. Total income increased by 21.25% year on year to Rs 3,706.10 crore in the quarter ended 31 March 2024.
The scrip rose 0.06% to end at Rs 269.40 on Tuesday, 28 May 2024.
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