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Mahindra Finance raises Rs350 crore via debt

LiveMint logoLiveMint 05-09-2017 PTI

New Delhi: Mahindra and Mahindra (M&M) Financial Services Ltd (Mahindra Finance) on Tuesday said it has raised Rs350 crore by issuing debt securities.

“A meeting of the duly authorised committee was held today, approving the allotment of secured redeemable non- convertible debentures of the face value of Rs10 lakh each aggregating to Rs 350 crore,” the company said in a regulatory filing.

The company has not given any detail about the usage of the proceeds.

Shares of Mahindra Finance closed 2.77% up at Rs438.95 apiece on BSE.

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