Money & Banking

Mahindra Finance board approves rights issue plan

Our Bureau Mumbai | Updated on July 18, 2020 Published on July 18, 2020

The board of Mahindra and Mahindra Financial Services on Saturday approved a proposal to raise ₹3,500 crore of funds through a rights Issue of its equity shares of face value of ₹2 each.

The issue will open on July 28 and close on August 11, it said in a regulatory filing.

The issue size would consist of 61.77 crore fully paid-up equity shares of face value of ₹2 each, for an aggregate amount not exceeding ₹3,089 crore.

It would be priced at ₹50 per share, including a premium of ₹48 per share.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 18, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.