M&MFIN · price
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M&M Financial Services has allotted 87,500 secured, rated, listed redeemable non-convertible debentures (NCDs) on private placement basis. The total subscription amount is Rs. 875 crore, comprising a base issue of Rs. 750 crore plus a green shoe option of Rs. 125 crore. Each debenture has a face value of Rs. 1 lakh, issued at par. The NCDs carry a fixed coupon rate of 7.90% per annum and will be listed on the BSE Wholesale Debt Market segment. This is a routine debt issuance by the Mahindra group NBFC to raise capital for lending operations.
The issuance strengthens M&M Financial's funding base at a competitive rate of 7.90%. This is positive for the company's lending capacity but represents additional debt obligations. The 7.90% coupon indicates stable borrowing costs for a credible NBFC.