Mahindra Finance raises over Rs 255 crore by issuing bonds
ECONOMY & POLICY

Mahindra Finance raises over Rs 255 crore by issuing bonds

On Monday, Mahindra & Mahindra Financial Services Limited (MMFSL) told the media that it has raised more than Rs 255 crore by issuing bonds on a private placement basis.

A meeting of the committee of the board on March 28, 2022, sanctioned the allotment of 2,500 secured redeemable non-convertible debentures (NCDs) of the face value of Rs 10 lakh each aggregating to Rs 255.45 crore, via private placement, Mahindra Finance said in a regulatory filing.

The duration of the bonds is nine years and 234 days, and the date of maturity is November 17, 2031. The bonds carry a coupon of 7.45% per annum, and the Extended Internal Rate of Return (XIRR) is 7.51%.

XIRR is a single rate of return that is applied to each installment (and any redemptions). It provides the current value of the total investment.

Image Source

Also read: Mahindra & Mahindra records 5% wholesale order decline in Oct
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

On Monday, Mahindra & Mahindra Financial Services Limited (MMFSL) told the media that it has raised more than Rs 255 crore by issuing bonds on a private placement basis. A meeting of the committee of the board on March 28, 2022, sanctioned the allotment of 2,500 secured redeemable non-convertible debentures (NCDs) of the face value of Rs 10 lakh each aggregating to Rs 255.45 crore, via private placement, Mahindra Finance said in a regulatory filing. The duration of the bonds is nine years and 234 days, and the date of maturity is November 17, 2031. The bonds carry a coupon of 7.45% per annum, and the Extended Internal Rate of Return (XIRR) is 7.51%. XIRR is a single rate of return that is applied to each installment (and any redemptions). It provides the current value of the total investment. Image Source Also read: Mahindra & Mahindra records 5% wholesale order decline in Oct

Next Story
Infrastructure Urban

Ecom Express Appoints Kammal Daas as VP of Operations, Last Mile

Ecom Express Limited has reportedly appointed Kammal Daas as Vice President of Operations, Last Mile. Kammal will play an important role in strengthening the company’s operational capabilities and driving efficiency across its last-mile delivery process.Kammal brings over 18 years of rich experience in operations, logistics, and supply chain management. Most recently, he served as Vice President of Operations at Licious, where he led mid-mile delivery operations and managed procurement logistics. His career highlights also include leadership positions at Flipkart and Walmart India, where he ..

Next Story
Real Estate

MHADA Eases Financial Burden: Maintenance Fees Post-Possession Only

In a landmark policy reform, the Maharashtra Housing and Area Development Authority (MHADA) has announced that maintenance charges and property taxes for scattered housing units and plots will now only be applicable from the date of possession. This move, led by IAS officer Sanjeev Jaiswal, Vice President and CEO of MHADA, is a significant relief for beneficiaries of its housing schemes.Previously, beneficiaries were required to pay these charges from the date of allotment, even if possession was delayed. This often placed an unfair financial burden on individuals while properties remained und..

Next Story
Real Estate

MHADA Amnesty Scheme Eases Occupancy Certificate Delays

The Maharashtra Housing and Area Development Authority (MHADA) has launched a special Amnesty Scheme to assist housing societies in Mumbai and its suburbs in obtaining long-pending Occupancy Certificates (OCs) for redeveloped buildings. Valid until 10 April 2025, the scheme is set to benefit approximately 80 housing societies.The delays in issuing OCs were primarily due to the inability of societies to pay the premium differential amount for redevelopment. To resolve this, MHADA has waived the interest on these premiums, requiring societies to pay only the principal amount. Additionally, socie..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000