Mahindra & Mahindra Financial Services Ltd NCD (M & M Financial NCD) Details:
Mahindra & Mahindra Financial Services Ltd, a non-banking financial company, provides financial products and services in the rural and semi-urban areas in India.
It offers vehicle financing for auto and utility vehicles, tractors, cars, commercial vehicles, two wheelers, three wheelers, and construction equipment; pre-owned vehicle financing for cars, multi-utility vehicles, tractors, and commercial vehicles; housing finance for new houses, and house renovation and improvements; and small and medium-sized enterprises financing services, including project finance, equipment finance, and working capital finance.
The company also provides personal loans for wedding, children’s education, medical treatment, and working capital; insurance broking solutions to retail customers and corporations; investment products comprising fixed deposits; and advisory services under the Mahindra Finance Finsmart brand name.
In addition, it offers corporate loans, secured business loans, and bill discounting and lease rental discounting services; and fixed deposits and mutual fund schemes.
The company was formerly known as Maxi Motors Financial Services Limited and changed its name to Mahindra & Mahindra Financial Services Ltd in November 1992.
Mahindra & Mahindra Financial Services Ltd was founded in 1991 and is headquartered in Mumbai, India. Mahindra & Mahindra Financial Services Limited is a subsidiary of Mahindra & Mahindra Ltd.
Objects of the Mahindra & Mahindra Financial Services Ltd NCD (M & M Financial NCD) :
The object of the issue are:
- For the purpose of onward lending, financing, refinancing the existing indebtedness of Company, long term working capital; and
- General corporate purposes;
Mahindra & Mahindra Financial Services Ltd NCD (M & M Financial NCD) details:
- Issue Open: July 10, 2017 – July 28, 2017.
- Issue Type: Fixed Price Issue NCD (First Come First Serve).
- Face Value: Rs. 1000 Per NCD.
- Lot Size: 10 NCDs and in multiple of 1 NCD thereon
- Minimum Order Quantity: 10 NCDs and in multiple of 1 NCD thereon.
- Issue Size: Rs 250 Crore. (With An Option to Retain Over Subscription up to Rs 1750 Crore)
- Listing At: BSE
Interest Rate and Time Period: The NCDs will offer yield in the range of 7.75-8.05 per cent per annum. These carry the options of 7, 10 and 15 years.
Credit Rating: The NCDs proposed to be issued under this Tranche 1 Issue have been rated ‘IND AAA’/ Outlook Stable’ for an amount of ₹ 2,00,000 lakhs, by India Ratings & Research Private Limited (India Rating). It has also got rating of ‘BWR AAA, Outlook: Stable’ for an amount of ` 2,00,000 lakhs, by Brickwork Ratings India Private Limited (BWR).
Yes Securities (India) Limited, Edelweiss Financial Services Limited, A. K. Capital Services Limited, Axis Bank Limited and Trust Investment Advisors Private Limited will be the lead manager of the issue. While Axis Trustee Services Limited will be the Debenture Trustee of the issue.
Karvy Computershare Pvt Ltd will be the registrar of the issue.
Draft Shelf Prospectus of Mahindra & Mahindra Financial Services Ltd NCD (M & M Financial NCD):
Shelf Prospectus Mahindra & Mahindra Financial Services Ltd NCD (M & M Financial NCD):
If You Want to Reduce Your Brokerage By More Than 80% Just Get More Information Here: Save More Than 80% Brokerage.
Au Financiers Ltd (AUFL) IPO also able to list successfully and gave its investors over 51% listing gains.
While Au Financiers IPO Grey Market Premium (AUFIL GMP) also started trading at Rs 104 – Rs 106 per equity.
Now Salasar Techno Engineering Ltd IPO (STEL IPO) bidding is going to be active from July 12, 2017. Current Grey Market Premium (GMP) Of Salasar Techno Engineering Ltd (STEL) IPO is not active as of now.
Some SME IPO will also be active in market in coming week.
Keep watching this blog to keep yourself updated with all the news.
If you want all updates delivered to your email box just subscribe for the updates. We also hate spam so we are not going to share your details with anyone. So Just Subscribe and forget the tension of tracking the IPO’s. We will do it for you.
If you like to have a Chance to Win a Smart Phone just Like and share us.