Mahindra Finance plans to raise Rs 95 cr via NCDs

Mahindra & Mahindra Financial Services on Monday said it is planning to raise Rs 95 crore through issuance of debentures.

A proposal to this effect was approved at a meeting of a duly authorised committee on February 10, Mahindra Finance said in a BSE filing.

The committee approved the "allotment of 950 Secured Redeemable Principal Protected Non Convertible Market Linked Debentures (NCDs) of face value of Rs 10,00,000 each, at par, aggregating to Rs 95 crore", it said.

The date of maturity of debentures is August 10, 2021.

The company's stock was trading at Rs 394.40, down 1.03 per cent, on the BSE.