Mahindra & Mahindra Financial Services Limited has informed the Exchange regarding 'Letter of Offer dated May 8, 2025, for Rights Issue of equity shares'.
M&MFIN · price
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On the reaction day the stock moved 3.2 pts less than Nifty Midcap 150 and 2.6 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mahindra & Mahindra Financial Services Limited (MMFSL) has submitted the Letter of Offer for its upcoming Rights Issue of up to 15,44,41,240 fully paid-up equity shares of face value ₹2 each. The issue price is fixed at ₹194 per share (including a premium of ₹192), aggregating up to ₹2,996.16 crores on a fully subscribed basis. Eligible shareholders can subscribe in the ratio of 1 Rights Equity Share for every 8 equity shares held on the record date of Wednesday, May 14, 2025. The issue opens on May 22, 2025 and closes on June 6, 2025, with listing expected by June 11, 2025. The proceeds will be used for the company's business purposes, with CARE Ratings Limited appointed as the monitoring agency.
Existing shareholders will get the opportunity to buy additional shares in proportion to their current holdings; they need to decide whether to subscribe, sell their rights entitlements, or let them lapse. The new shares, once allotted, will dilute existing holdings by about 11.1% (1/9), which may exert short-term pressure on the stock price depending on subscription levels and the discount to market price.