New Delhi, Feb 22: Mahindra & Mahindra Financial Services on Tuesday said it has raised Rs 300 crore by issuing bonds on a private placement basis.
A meeting of the committee of the board on Tuesday approved the allotment of 3,000 secured redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, aggregating to Rs 300 crore through private placement, Mahindra Finance said in a regulatory filing.
The bonds are set to mature on February 22, 2024, it said.
The debt instruments bear an interest rate, or coupon, of 5.98 per cent per annum.
(PTI)
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