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Mahindra Finance to raise up to Rs 86 cr via NCDs

Jun 5, 2020, 14:02 IST

PTI

New Delhi, Jun 5 () Mahindra & Mahindra Financial Services Ltd (Mahindra Finance) on Friday said it will raise up to Rs 86 crore through issuance of debt securities.

"A meeting of the duly authorised committee was held today, i.e. on 5th June, 2020, approving the allotment of 860 secured redeemable principal protected non-convertible market linked debentures (NCDs) aggregating to Rs 86 crore," the company said in a BSE filing.

Face value of the NCDs will be Rs 10,00,000 each, aggregating to Rs 86 crore.

The maturity tenure of the securities is 731 days from the deemed date of allotment, it added.

Mahindra Finance stock traded at Rs 153.75 on the BSE, up 3.33 per cent over previous close. KPM RUJ RUJ

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