Mahindra Financial Services raises Rs 1,056 crore via QIP

New Delhi, Dec 7 (PTI) Mahindra and Mahindra FinancialServices Ltd has raised Rs 1,056 crore through a qualifiedinstitutional placement (QIP) issue...

New Delhi, Dec 7 (PTI) Mahindra and Mahindra FinancialServices Ltd has raised Rs 1,056 crore through a qualifiedinstitutional placement (QIP) issue.

"The securities issue committee of the board of thedirectors of the company... has approved the allotment of2,40,00,000 equity shares of the face value of Rs 2 each toqualified institutional buyers under the qualifiedinstitutions placement at the issue price of Rs 440 per equityshare aggregating Rs 1,056 crore," the company said in aBSE filing.

The QIP opened on November 30 and closed on December 5.

Stock of Mahindra and Mahindra Financial Services closed2.74 per cent higher at Rs 456.20 on the BSE today. PTI SVKADIARD.

This is unedited, unformatted feed from the Press Trust of India wire.

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