your password has been reset successfully, Please login again.

M& M Decides To Raise Rs 3,500 Crore Through NCDs

M & M releases a public issue for NCDS to raise money up to 3, 500 crores.
BY BEx Bureau
BusinessEx
Jan 04, 2019

Rural NBFC, Mahindra Mahindra financial services ltd. prepares to take on a public issue of NCDs, which sums around Rs.500 crore. The public issue is initiated on January 04, 19 and its cessation will be on January 25. The company expects to raise capital up to Rs.3, 500 crores via the issue of NCDs.

Further, the company estimates to retain oversubscription equal to Rs. 3,000 crore, which sums up to Rs. 3,500 crore from tranche 1 issue.

In a regulatory filing M M states that the company will be listing the NCDs which will be procured via tranche 1 issue. The company offers NCDs under four categories: Series I (39 months), Series II (60 months) and Series III (96months) comprises secured NCDs whilst Series IV ( 120 months) comprises unsecured NCDs.

Even, the company has disclosed the coupon rates also which states as the coupon rates series I, series II, series III and series IV NCDs for category I (QIB) and category II (corporate) holders is 9 per cent, 9.10 per cent, 9.20 per cent and 9.35 per cent per annum, respectively, payable annually.

The coupon rate on series I, series II, series III and series IV NCDs for category III (HNI) and category IV (retail individual) holders is 9.05 per cent, 9.15 per cent, 9.30 per cent and 9.50 per cent per annum, respectively, payable annually. ( source Business line)

Please add your Comment
SIMILAR News
August 17, 2019
With Sistema Asia Capital’s investment, the aggregate equity funding of Lendingkart has surged to $1 ...More
By Jaspreet Kaur
August 17, 2019
Investors, who partook in the funding round, were Inventus Capital, Storm Ventures, Emergent Venture ...More
By Jaspreet Kaur
August 16, 2019
UK-based company sold 67.1 million stakes at INR 480.7 epiece, according to the stock-exchange data. ...More
By Jaspreet Kaur
August 14, 2019
Indian ride-hailing firm, Ola has proclaimed to buy Pikup.ai, an AI platform, which renders tech sol ...More
By Jaspreet Kaur
August 14, 2019
Indian online platform, Tjori has amassed INR 5 crore in pre-Series A round from a cohort of investm ...More
By Jaspreet Kaur
August 12, 2019
The automotive manufacturer’s products comprise telematic devices, instrument cluster, and other dat ...More
By Jaspreet Kaur
August 12, 2019
RadhaKishan Damani, who is an active promoter of supermarket company, Avenue Supermarket, has recent ...More
By Jaspreet Kaur
August 07, 2019
Agritech company, Gramophone which amasses INR 24.78 crore in its series A funding round from a coho ...More
By Jaspreet Kaur
August 06, 2019
It is the first transaction of BlackRock in the onshore finance segment in India. ...More
By Jaspreet Kaur
August 06, 2019
The startup mainly builds visual object intelligence for the industrial robotics and plans to offer ...More
By Jaspreet Kaur
August 05, 2019
After this transaction, Thirdwatch, which is established by Shashank Agarwal, will be moved to Razor ...More
By Jaspreet Kaur
August 05, 2019
The Indian online platform, Veri5Digital has obtained INR 14.06 crore in Series A round, which is sy ...More
By Jaspreet Kaur