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
March 22, 2019
After the fresh funding round, Bjyu, the private education technology company, has become the fourth ...More
By Jaspreet Kaur
March 22, 2019
Through the current pricing, the company anticipates to garner capital up to INR 25,000 crore ...More
By Jaspreet Kaur
March 20, 2019
The South Korean automotive companies, Hyundai Motors and Kia Motors on Tuesday proclaimed that they ...More
By Jaspreet Kaur
March 20, 2019
On Wednesday’s morning, the shares of the IT sector are trading in the positive spectrum. ...More
By Jaspreet Kaur
March 16, 2019
The smartphone maker, Xiaomi has taken this decision in order to surge the sales ...More
By Jaspreet Kaur
March 16, 2019
Reliance Jio Infocomm Limited, a telecommunications company may release 5G services in the latter ha ...More
By Jaspreet Kaur
March 14, 2019
The investing groups along with Softbank Corp and Toyota Motor Corp are deciding on to endow money u ...More
By Jaspreet Kaur
March 14, 2019
The present deal has ruled out adversaries of OYO that are, Treebo Hotels-financed by SAIF Partners ...More
By Jaspreet Kaur
March 13, 2019
With this move, the conglomerate company has incremented 5-10 points in respect of cost that the com ...More
By Jaspreet Kaur
March 13, 2019
The decision has been taken considering the succession planning idea and owing to which, Rahul Bajaj ...More
By Jaspreet Kaur
March 12, 2019
JMC Projects, an Indian Construction and Engineering Company, revealed that it has accumulated contr ...More
By Jaspreet Kaur
March 12, 2019
By launching daycare facility, BOB has become the first bank amid public sector banks to offer this ...More
By Jaspreet Kaur