(Unsecured Subordinated Redeemable Non-Convertible Debentures)
Mahindra & Mahindra Financial Services Limited (MMFSL) commenced its journey in the rural non-banking finance industry. It raise public issue of Secured NCDs for an amount up to Rs. 250 Crores (Base Issue Size) with an option to retain over subscription up to Rs. 1,750 Crores aggregating upto Rs. 2,000 Crores. The NCDs will be eligible for Tier II Capital.
Mahindra & Mahindra Financial Services Limited (MMFSL) NCD Issue:-
Issue Size: Rs. 250 Crores (Base Issue Size) with an option to retain over subscription up to Rs. 1,750 Crores aggregating upto Rs. 2,000 Crores.
Issuer: Mahindra & Mahindra Financial Services Limited (MMFSL)
Issue opens: Monday, July 10, 2017
Issue closes: Friday, July 28, 2017
Allotment: First Come First Serve Basis
Face Value: Rs. 1000 per NCD
Issue Price: Rs. 1000 per NCD
Nature of Instrument: Unsecured Subordinated Redeemable Non-Convertible Debentures
Minimum Application: Rs. 10,000 (10 NCD’s) and in multiple of Rs. 1,000 (1 NCD) thereafter across all Series
Listing: BSE
Rating:
- ‘IND AAA’/ Outlook Stable’ by India Ratings & Research Private Ltd
- ‘BWR AAA’, Outlook Stable’ by Brickwork Ratings
Coupon Rate & Effective Yield (% p.a.) for :
| Series | I | II | III |
| Tenor | 7 Years | 10 Years | 15 Years |
| Frequency of Interest payment | Annual | Annual | Annual |
| Category I & Category II | 7.76 | 7.91 | 7.95 |
| Category III & Category IV | 7.86 | 8.01 | 8.05 |
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