Business Standard

Mahindra Finance raises ~350 crore via debt

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Mahindra and Mahindra Financial Services Ltd (Mahindra Finance) said on Tuesday it has raised ~350 crore by issuing debt securities. "A meeting of the duly authorised committee was held on Tuesday, approving the allotment of secured redeemable nonconvert­ible debentures of the face value of ~10 lakh each aggregatin­g to ~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 per cent up at ~438.95 apiece on the BSE.

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