Mahindra & Mahindra to mobilise Rs 475 crore via NCDs
The company did not elaborate on end use of funds it plans to raise.
By PTI | Updated:
NEW DELHI: Home-grown auto major Mahindra & Mahindra (M&M) today said it will raise Rs 475 crore through issuance of non-convertible debentures ( NCDs) on a private placement basis.
In a regulatory filing, M&M said: "The Loans and Investment Committee... has approved issuance and offer of 4,750 rated, listed, unsecured, redeemable 7.57 per cent secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating Rs 475 crore on a private placement basis."
The company did not elaborate on end use of funds it plans to raise.
In a regulatory filing, M&M said: "The Loans and Investment Committee... has approved issuance and offer of 4,750 rated, listed, unsecured, redeemable 7.57 per cent secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating Rs 475 crore on a private placement basis."
The company did not elaborate on end use of funds it plans to raise.
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