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The senior, secured, rated, listed, redeemable NCDs of face value of Rs 1 lakh each have a fixed coupon rate of 8.10% p.a will be matured on 21 May 2026.
The said debentures will be listed on 'Wholesale Debt Market Segment' of Bombay Stock Exchange (BSE).
The funds raised through this issue will be utilized for the purpose of financing, onward lending, repayment of dues of other financial institutions / banks or for long-term working capital.
The NCDs have received 'CRISIL AAA / Stable' rating by CRISIL Ratings and 'IND AAA / Stable' rating by India Ratings & Research.
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 8.7 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 reported 30% drop in standalone net profit to Rs 629 crore in Q3 FY23 from Rs 894 crore in Q3 FY22. Total Income in the third quarter was at Rs 2,892 crore, up 14% YoY.
The scrip ended 1.38% lower at Rs 257.35 on Friday, 21 April 2023.
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