Mahindra MF eyes Rs 100 crore from bonds issue

Hyderabad: Mahindra Mutual Fund, a fully owned subsidiary of Mahindra and Mahindra Financial Services, hopes to mobilise over Rs 100 crore from its bonds issue scheme Mahindra Credit Risk Yojana, said managing director and chief executive Ashutosh Bishnoi.

Speaking to mediapersons in Hyderabad on Monday, Bishnoi said the asset management company (AMC) that currently manages around Rs 4,500 crore of assets was eying to take it to around Rs 7,000 crore by fiscal-end.

The AMC is currently mobilising funds from around 400 cities and towns across the country and was looking to expand it to at least 500 cities and towns, mostly tier-IV and tier-V towns, he said.


Mahindra Mutual Fund plans to target the investors seeking reasonable income and capital appreciation over medium to long term for it bonds issue and proposes to invest in quality instruments of moderate to high safety investment grade securities.

Bishnoi said the scheme provides investors an opportunity to participate in India growth story by investing in well diversified debt portfolio of fundamentally strong, high liquid and well-known companies.