Mahindra & Mahindra Financial Services Limited has informed the Exchange about NCD Issuance
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Mahindra & Mahindra Financial Services Limited has approved issuance of up to 1 lakh secured NCDs on private placement basis, raising up to Rs 1,000 crore (base issue Rs 500 crore with green shoe option of additional Rs 500 crore). Each debenture has face value of Rs 1 lakh at a fixed coupon rate of 7.71% p.a. The tenure is approximately 3 years with allotment on 28th April 2026 and maturity on 28th March 2029. The debentures will be listed on the Wholesale Debt Market Segment of BSE Limited and are secured by exclusive charge on the company's receivables and assets to the extent of 100% of outstanding debentures.
This is standard debt fundraising by a well-rated NBFC. The 7.71% coupon is reasonable for a blue-chip issuer like Mahindra, indicating stable borrowing costs. The issuance size of up to Rs 1,000 crore provides capital for lending operations, with no immediate equity dilution impact on shareholders.