Mahindra Finance NCD: Mahindra and Mahindra Financial Services Limited is issuing NCD (Non-Convertible Debenture) from 4-January-2019 to 25-January-2019.
Mahindra Finance NCD Issue Details
| Issue Type | Secured Redeemable Non-Convertible Debentures |
|---|---|
| Issuer | Mahindra and Mahindra Financial Services Limited |
| Issue Opens | 4-January-2019 |
| Issue Closes | 25-Jan-2019 |
| Interest | Ranging from 9.00% to 9.50% |
| Face Value | Rs 1,000 Per NCD |
| Issue Size | Rs 350 Crores |
| Minimum Order | 10 NCD (Rs 10,000) |
| Listing | BSE |
(Read: Debenture – Fixed Income Investment)
Objects of the Mahindra Finance NCD Issue
According to the Mahindra and Mahindra Financial Services, it proposes to utilise the funds which are being raised through the issue, after deducting the issue related expenses to the extent payable by the company, estimated to be approximately Rs 350 crores, towards funding the following objects:-:-
- For the purpose of onward lending, financing, refinancing the existing indebtedness of our Company, long-term working capital, and
- General corporate purposes.
Rating of Mahindra Finance NCD
- Credit Analysis & Research Ltd (CARE): Care AAA/Stable
- India Ratings and Research Private Limited (India Ratings): IND AAA/Stable
About Mahindra and Mahindra Financial Services Limited
This company was founded in the year 1991 and it is a part of Mahindra Group, one of the largest business conglomerates in India. It is non-banking finance companies with customers primarily in the rural and semi-urban markets of India. They are primarily engaged in providing financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles. This company also provides housing finance, manage mutual funds, personal loans, financing to small and medium enterprises, insurance broking and mutual fund distribution services. It operates an extensive network of our 1,296 offices spanning across 27 states and 5 union territories in India.
Promoters: Mahindra & Mahindra Limited.
Registered Office: Gateway Building, Apollo Bunder, Mumbai 400001, Maharashtra.
Telephone: +91 22 2289 5500.
Website: www.mahindrafinance.com
Lead Managers to the Mahindra Finance NCD Issue
- Edelweiss Financial Services Limited
- A.K. Capital Services Limited
- Axis Bank Limited
- ICICI Securities Limited
- SBI Capital Markets Limited
- Trust Investment Advisors Private Limited
- Yes Securities (India) Limited
Trustee of Mahindra Finance NCD Issue
Axis Trustee Services Limited
Registrar to the Mahindra Finance NCD Issue
Karvy Computer Share Private Limited
Karvy Selenium Tower B, Plot 31-32, Financial District, Nanakramguda, Gachibowli, Hyderabad – 500 032.
Telephone: +91 4067162222
Please read the draft prospectus for detailed information of Mahindra Finance NCD issue.
Disclaimer: This post is just an information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor of necessary suggestions.
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Tags: #debenture #nonconvertible debenture #bond #Investment #NCD #Mahindra Finance
