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The board of directors of Mahindra Rural Housing Finance Ltd (MRHFL) on Wednesday approved the issue of secured and/ or unsecured redeemable non-convertible debentures including subordinated debentures on a private placement basis, for an aggregate amount not exceeding ₹6,000 crore.
This fund-raising is within the overall borrowing limits of the company, subject to the approval of the shareholders at the ensuing AGM, the housing finance company said in a stock exchange notice. The board also approved allotment of 19,35,192 equity shares of the face value of ₹10 each to the MRHFL Employee Welfare Trust under the MRHFL ESOP — 2017
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