Mahindra & Mahindra Financial Services Limited has informed the Exchange regarding allotment of NCDs
M&MFIN · price
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Mahindra & Mahindra Financial Services Limited has completed the allotment of 87,500 Secured, Rated, Listed Redeemable Non-Convertible Debentures (NCDs) worth Rs. 875 Crore on a private placement basis. The NCDs have a face value of Rs. 1 lakh each, issued at par. The base issue of Rs. 750 Crore was oversubscribed, triggering the full Green Shoe option of Rs. 125 Crore. These debentures carry a fixed coupon rate of 7.90% per annum and will be listed on the Wholesale Debt Market segment of BSE Limited.
This is a routine debt issuance by M&M Financial Services, a well-established NBFC. The 7.90% coupon rate reflects current market borrowing costs for quality issuers. The successful oversubscription signals investor confidence in the company's creditworthiness. The funds will support the company's lending operations and capital deployment needs.