M&MFIN · price
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Mahindra & Mahindra Financial Services Ltd has approved issuance of Secured, Rated, Listed, Redeemable Non-convertible Debentures via private placement. The issue size is up to Rs. 1,000 crore (base Rs. 750 crore with Rs. 250 crore green shoe option), comprising up to 100,000 debentures at Rs. 1 lakh face value each. The debentures carry a fixed coupon of 7.90% p.a. and will be listed on the BSE Wholesale Debt Market. Tenure is 650 days with allotment on 12th May 2026 and maturity on 21st February 2028. The NCDs are secured by exclusive charge on the company's receivables, loan contracts, and book debts to the extent of 100% of outstanding debentures.
This is a standard debt raise by M&M Finance at a market-based coupon rate. The issuance supports the company's lending operations and borrowing programme without diluting equity. The 7.90% rate reflects current market conditions for a rated NBFC instrument.