Mahindra & Mahindra to mobilise Rs 475 crore via NCDs


NEW DELHI: Home-developed auto major Mahindra and Mahindra (M&M) today said it will raise Rs 475 crore through issuance of non-convertible debentures (NCDs) on a private arrangement premise. 

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In an administrative recording, M&M said: "The Loans and Investment Committee… has affirmed issuance and offer of 4,750 evaluated, recorded, unsecured, redeemable 7.57 for every penny secured non-convertible redeemable debentures with a face estimation of Rs 10 lakh each totaling Rs 475 crore on a private position basis."The organization did not expand on end utilization of assets it arrangements to raise.

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