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Mahindra & Mahindra Financial Services Ltd NCD (M & M Financial IPO) Detail

Jul 10, 2017 - Jul 28, 2017

Mahindra & Mahindra Financial Services Ltd (MMFSL) is one of India's leading non-banking finance companies focused on customers primarily in the rural and semi-urban sector of India with over two decades of existance. The company is primarily in the business of financing purchase of new and pre-owned auto and utility vehicles, tractors, cars, commercial vehicles, construction equipment's and SME financing.

MMFSL is also engaged in personal loans/gold loans, insurance broking, housing finance and Mutual Fund/AMC. It has 1,182 offices covering 27 states and 4 union territories in India, as of March 31, 2017. Parent company has 51.20% holding in this arm.

Company Promoters:

The promoters of the company is Mahindra & Mahindra Limited.

Objects of the Issue:

The object of the issue are:

1. For the purpose of onward lending, financing, refinancing the existing indebtedness of the Company, long term working capital; and
2. General corporate purposes.

Issue Detail:

  »»  Issue Open: Jul 10, 2017 - Jul 28, 2017
  »»  Issue Type: Fixed Price Issue NCD
  »»  Issue Size: NCD's of Rs. 1000
  »»  Issue Size: Rs. 250.00 Crore
  »»  Face Value: Rs. 1000 Per NCD
  »»  Issue Price: Rs. 1000 Per NCD
  »»  Market Lot: 10 NCD
  »»  Minimum Order Quantity: 10 NCD
  »»  Listing At: BSE

Ratings

This offer is rated 'IND AAA' / Outlook Stable' for an amount of Rs. 2000 crore, by India Ratings & Research Private Limited "India Rating" and 'BWR AAA, Outlook: Stable' by Brickwork Ratings India Private Limited. The rating of NCDs by India Ratings and BWR indicate that instruments with this rating are considered to have highest degree of safety regarding timely servicing of financial obligations and carry lowest credit risk.

Offerings

NCDs have tenure of 7, 10 and 15 years with annual interest payment. For the said tenures, it offers 7.75%, 7.90% and 7.95% for QIBs and Corporate and 7.85%, 8.00% and 8.05% for HNIs and Retail categories respectively. For 15 years tenure, the company may exercise Call Option after 10 years.

Useful Links

Company Contact Information

Mahindra & Mahindra Financial Services Ltd
Gateway Building,
Apollo Bunder,
Mumbai 400001, Maharashtra
Phone: +91 22 2289 5500
Fax: +91 22 2287 5485
Email: investorhelpline_mmfsl@mahindra.com
Website: http://www.mahindrafinance.com

M & M Financial IPO Rating

12
3.6
Rating:Rated 3.6 stars

Vote Here ...

M & M Financial IPO Registrar

Karvy Computershare Private Limited
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: einward.ris@karvy.com
Website: http://karisma.karvy.com

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M & M Financial IPO Comments

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