Incorporated in 1991, Mahindra & Mahindra Financial Services Limited is one of the leading non-banking finance companies. It caters to customers primarily in the rural and semi-urban parts of the country.
The company provides financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles. It also provides housing finance, personal loans, SME financing, insurance broking and mutual fund distribution services.
Mahindra runs an extensive network of 1,296 offices spread across 27 states and 5 union territories. The company has 20,201 employees in its various offices.
The promoters of the company is Mahindra & Mahindra Limited.
The objects 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 Open: Jan 4, 2019 - Jan 14, 2019
»» Issue Type: Fixed Price Issue NCD
»» Issue Size: 35,000,000 NCD's of Rs. 1000
»» Issue Size: Rs. 3,500.00 Crore
»» Face Value: Rs. 1000 Per NCD
»» Issue Price: Rs. 1000 Per NCD
»» Market Lot: 1 NCD
»» Minimum Order Quantity: 10 NCD
»» Listing At: BSE
This offer is rated 'IND AAA' / Stable' and CARE AAA/Stable for an amount of Rs. 3500 crore, by CARE. The rating of NCDs indicate that instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations and carry lowest credit risk.
NCDs have the tenure of 39 months,5, 8 and 10 years with an annual interest payment. For the said tenures, it offers 9.00%, 9.10%, 9.20% and 9.35% for QIBs and Corporate and 9.05%, 9.15%, 9.30% and 9.50% for HNIs and Retail categories respectively.
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Karvy Computershare Private Limited
Karvy Registry House, 8-2-596, St. No. 1,
Banjara Hills, Hyderabad - 500 034
Andhra Pradesh, India
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