04/12/2020

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Mahindra & Mahindra to raise Rs 1,000 crore through NCD, Auto News, ET Auto

Mahindra has not disclosed the motives for boosting the capittal. New Delhi: Automobile main Mahindra...

Mahindra has not disclosed the reasons for raising the capittal.
Mahindra has not disclosed the motives for boosting the capittal.

New Delhi: Automobile main Mahindra & Mahindra (M&M) on Friday explained it has raised Rs one,000 crore by way of allotment of Non-Convertible Debentures (NCDs) on private placement foundation.

The NCD, it explained, had been of the experience worth of Rs ten lakh each and every. Even so, the organization has not disclosed the motives for boosting the capittal.

“The Financial loans & Investment Committee has accredited issuance and present of ten,000 Rated, Mentioned, Unsecured, Redeemable, 6.sixty five% Non-Convertible Debentures of experience worth Rs ten,00,000/- each and every (“NCDs”), at par, aggregating Rs one,000 crores on private placement foundation,” the organization explained in a submitting to the BSE.

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