Mahindra & Mahindra Financial Services surges on raising Rs 407 crore through NCDs
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Mahindra & Mahindra Financial Services is currently trading at Rs. 203.10, up by 0.85 points or 0.42% from its previous closing of Rs. 202.25 on the BSE.
The scrip opened at Rs. 201.05 and has touched a high and low of Rs. 204.40 and Rs. 199.30 respectively. So far 51749 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 235.00 on 15-Sep-2022 and a 52 week low of Rs. 127.95 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 222.60 and Rs. 199.30 respectively. The current market cap of the company is Rs. 25173.92 crore.
The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 39.05% and 8.80% respectively.
Mahindra & Mahindra Financial Services (Mahindra Finance) has raised Rs 407 crore through allotment of 4,070 Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) at a fixed coupon of 8.10% p.a. (Series AI2022) of the face value of Rs 10,00,000 each through private placement.
The company has also raised Rs 144.39 crore through allotment of 1,750 Zero Coupon NCDs (Series AJ2022) of the face value of Rs. 10,00,000 each, issued at discount of Rs. 1,74,938 per debenture, aggregating to issue size of Rs 175 crore.
Mahindra Finance is one of India’s leading non-banking finance companies.
