Mahindra & Mahindra to raise Rs 500 crore via NCDs

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Mahindra & Mahindra (M&M) on Friday said it will raise Rs 500 crore through issuance of securities on a private placement basis.

The loans and investment committee has approved issuance and offer of 5,000 rated, listed, unsecured, redeemable non-convertible debentures of Rs 10 lakh each aggregating Rs 500 crore, M&M said in a regulatory filing.

The auto major did not elaborate on the reasons for raising the capital.