Mahindra & Mahindra to raise Rs 1,000 crore via non-convertible debentures

The loans and investment committee approved issuance and offer of 10,000 rated, listed, unsecured, redeemable, NCDs of face value Rs 10,00,000 each.
Mahindra and Mahindra logo
Mahindra and Mahindra logo

NEW DELHI: Mahindra & Mahindra (M&M) on Friday said it will raise up to Rs 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 Rs 10,00,000 each aggregating Rs 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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