Mahindra Finance rises on getting nod to raise funds through NCDs
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Mahindra & Mahindra Financial Services is currently trading at Rs. 305.45, up by 2.70 points or 0.89% from its previous closing of Rs. 302.75 on the BSE.
The scrip opened at Rs. 303.65 and has touched a high and low of Rs. 310.80 and Rs. 303.65 respectively. So far 108066 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 316.30 on 24-Jun-2024 and a 52 week low of Rs. 243.90 on 30-Oct-2023.
Last one week high and low of the scrip stood at Rs. 310.80 and Rs. 288.00 respectively. The current market cap of the company is Rs. 37745.44 crore.
The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 40.73% and 7.09% respectively.
Mahindra & Mahindra Financial Services (Mahindra Finance) has received approval to raise Rs 250 crore with a green shoe option upto Rs 1250 crore through Secured, Rated, Listed, Redeemable Non convertible Debentures (NCDs) on private placement basis.
The Committee of Directors at its meeting held on July 30, 2024 has approved the same. The allotment and maturity will be on August 02,2024 and August 30, 2027 respectively.
Mahindra Finance is one of India’s leading non-banking finance companies.
