NEW DELHI, Jan 3:Mahindra & Mahindra Financial Services plans to raise up to Rs 3,500 crore through public issue of non-convertible debentures (NCDs).
The company plans to undertake a public issue of NCDs for an amount aggregating up to Rs 500 crore (base issue size), opening on January 04, 2019. The issue will close on January 25.
It will have an option to retain oversubscription up to to Rs 3,000 crore aggregating up to Rs 3,500 crore (tranche I issue).
The NCDs offered through this tranche I are proposed to be listed on the BSE, the company said in a regulatory filing.
These NCDs, bearing a fixed rate of interest, are being offered under four different series — series I (39 months), series II (60 months) and series III (96 months) are secured NCDs, while series IV (120 months) are unsecured subordinated NCDs.
The coupon rate on series I, series II, series III and series IV NCDs for category I (QIB) and category II (corporate) holders is 9 per cent, 9.10 per cent, 9.20 per cent and 9.35 per cent per annum, respectively, payable annually.
The coupon rate on series I, series II, series III and series IV NCDs for category III (HNI) and category IV (retail individual) holders is 9.05 per cent, 9.15 per cent, 9.30 per cent and 9.50 per cent per annum, respectively, payable annually. (PTI)
Follow our WhatsApp channel
