Mahindra & Mahindra to raise ₹1,000 crore via NCDs

Industry:    2020-04-18

Mahindra & Mahindra (M&M) on Friday said it will raise up to ₹1,000 crore by issuing securities on private placement basis.

“The loans and investment committee at its meeting held on Friday approved issuance and offer of 10,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) of face value ₹10,00,000 each aggregating ₹1,000 crore on private placement basis,” M&M said in a regulatory filing.

The auto major, however, did not disclose the reasons for raising the capital.

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