Mahindra Finance on Thursday announced raising up to Rs 225 crore by issuing bonds.
A meeting of the duly authorised committee was held on June 24, 2021, approving the allotment of 2,250 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each aggregating to Rs 225 crore, Mahindra & Mahindra Financial Services (Mahindra Finance) said in a regulatory filing.
The date of allotment of bonds is June 24, 2021 and they are set to mature on June 24, 2026,
The five-year tenure bonds carry coupon rate of 6.35 per cent per annum.
Mahindra Finance stock traded 0.61 percent lower at Rs 155.60 apiece on the BSE.