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Mahindra & Mahindra Financial Services Limited - NCD
Incorporated in 1991, Mahindra & Mahindra Financial Services Limited is one of the leading non-banking finance companies. It caters to customers primarily in the rural and semi-urban parts of the country. The company provides financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles. It also provides housing finance, personal loans, SME financing, insurance broking and mutual fund distribution services. Mahindra runs an extensive network of 1,296 offices spread across 27 states and 5 union territories. The company has 20,201 employees in its various offices.
Issue Details
| Issuer | Mahindra and Mahindra Financial Services Limited ( View Report ) |
| Issue |
Base Issue Size: ₹500 crore with an option to retain oversubscription up to ₹3000 Crs aggregating up to ₹3500 Crs |
| Rating | ‘CARE AAA; Stable’ by CARE and “IND AAA; Stable” by India Ratings |
| Issue opens |
January 4, 2019 |
| Issue closes | January 25, 2019 |
| Issue Price | Rs. 1,000 per NCD |
| Minimum Application | Rs 10,000/- (10 NCDs) across all Series and in multiples of 1 (one) NCD of Rs 1,000/- each thereafter |
| Coupon Type | Fixed Coupon Rates |
| Listing | NCDs are proposed to be listed on BSE |
SPECIFIC TERMS FOR EACH SERIES OF NCDs
| T&C in connection with Secured NCDs***Options | I | II | III | IV |
| Frequency of Interest Payment | Annual | Annual | Annual | Annual |
| Minimum Application | Rs 10,000/- (10 NCDs) across all Series and in multiples of 1 (one) NCD thereafter | |||
| Issue Price (Rs/ NCD) | Rs 1,000 | |||
| Face Value / Issue Price (Rs / NCD) | Rs 1,000 | |||
| Tenor from Deemed Date of Allotment | 39 months | 60 months |
96 months |
120 months |
| Coupon(%) for NCD Holders in Category I and II | 9.00 | 9.10 | 9.20 | 9.35 |
|
Coupon(%) for NCD Holders in Category III and IV |
9.05 | 9.15 | 9.30 | 9.50 |
|
Effective Yield (per annum) for Category I & II |
9.02 | 9.12 | 9.21 | 9.35 |
|
Effective Yield (per annum) for Category III & IV |
9.07 | 9.17 | 9.31 | 9.50 |
|
Redemption amount (Rs per NCD) |
1000 | 1000 | 1000 | 1000 |
|
Maturity/Redemption Date (Months from the Deemed Date of Allotment) |
39 months | 60 months | 96 months | 120 months |
|
Put and call option |
N.A. | |||
|
Mode of Interest Payment |
Through various options available | |||
