Rss Feed Mahindra Finance rises on entering into strategic co-lending partnership with SBI
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Mahindra & Mahindra Financial Services is currently trading at Rs. 247.70, up by 2.45 points or 1.00% from its previous closing of Rs. 245.25 on the BSE.
The scrip opened at Rs. 246.95 and has touched a high and low of Rs. 249.95 and Rs. 245.20 respectively. So far 114748 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 346.40 on 04-Jul-2023 and a 52 week low of Rs. 191.20 on 02-Nov-2022.
Last one week high and low of the scrip stood at Rs. 282.35 and Rs. 243.90 respectively. The current market cap of the company is Rs. 30499.06 crore.
The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 39.93% and 7.91% respectively.
Mahindra & Mahindra Financial Services (Mahindra Finance) has entered into a strategic co-lending partnership with State Bank of India (SBI), India’s largest public sector bank. The co-lending model is designed to harness the distribution strength of Non-Banking Financial Companies (NBFCs) and the cost-efficient capital of banks, ensuring wider outreach and better interest rates for customers.
Launched on a pan India level, this partnership is expected to offer affordable solutions to Mahindra Finance customers. The interest rates offered under this co-lending arrangement would be determined based on the customer's credit profile, ensuring a personalized and competitive financing experience. With Mahindra Finance strong rural distribution network and expertise in the financial sector and SBI’s competitive capital cost customers will get competitive advantage.
The objective is to extend joint financial support to customers thereby enabling credit to the unserved segments of the economy at an affordable cost, marking Mahindra Finance's first co-lending tie-up with a bank. The partnership with SBI emphasizes the long-term commitment of both entities towards empowering the MSME sectors. Under this agreement, Mahindra Finance will facilitate leads and manage loan servicing while serving as a single point of contact for prospective customers.
Mahindra Finance is one of India’s leading non-banking finance companies.
