HOME > BUSINESS > AUTO > Mahindra & Mahindra raises Rs 475 cr via debentures

Mahindra & Mahindra raises Rs 475 cr via debentures

mahindraAutomobile manufacturers Mahindra & Mahindra Ltd. said it raised Rs 475 crores via non-convertible debentures on private placement basis with a tenure of 10 years.

The face value of the 7.57% debentures are Rs 10,00,000 each.

Mahindra & Mahindra is an Indian multinational automobile manufacturing corporation based in Mumbai, Maharashtra.

It is one of the largest vehicle manufacturers by production in India and the largest manufacturer of tractors across the world.

It is a part of Mahindra Group, an Indian conglomerate.

Follow ULTRA.news
Bajaj Finance offers 8.1% interest on FD to seniors, 7.85% to others Bajaj Finance said it will offer 8.10% on fixed deposits to senior citizens, making it among the highest interest rates offered on fixed deposits in the country. For others, it will be 7.85% per year.The non-banking finance company claims to have the highest credit ranking ...
BSNL to form tower co, but will it sell stake? The Union Cabinet today gave its approval for hiving off mobile tower assets of Bharat Sanchar Nigam Limited into a separate company owned by BSNL.While the move, is not of that big a significance in itself, it is crucial from the perspective of what could come next.It is...
Tata Steel UK wins regultory approval for separating pension liabilities Tata Steel UK, formerly Corus Group, has taken one more step towards solving its financial woes by moving its pension-related liabilities to a new entity.It said the UK Pensions Regulator has approved a Regulated Apportionment Arrangement or RAA that separates the pension sc...
IndusInd Bank enters merger talks with SKS Microfinance Bharat Financial Inclusion, formerly known as SKS Microfinance, said it has entered into exclusive discussion with IndusInd Bank on a potential "strategic combination by way of amalgamation through a scheme of arrangement, or any other suitable structure."SKS Microfinance is...
Paypal to invest in and support five more Indian start-ups Online payment company PayPal has selected five startups – Finbox, Neoeyed, Paymatrix, Scalend and Tybo - for inclusion into its incubator program in Chennai.The program offers startups technology counsel and mentorship, infrastructure support and networking opportunities w...
Mahindra reports strong auto sales for August, SUV sales up 7% Mahindra & Mahindra Ltd, one of the biggest Indian automakers, reported stronger sales for its SUVs.Total utility or SUV sales for the company came in at 18,225 units, up 7% from 17,119 in August last year.With this, the company has been able to post a growth of 2% in SUV...
Maruti Suzuki to rebrand its car showroom network in India After introducing a separate showroom network for its higher-end cars by the name of NEXA, India's largest carmaker Maruti Suzuki said it will not overhaul, transform and rebrand its remaining car showrooms in the country.The Company targets to set up over 80 showrooms under ...
Moody’s downgrades IDBI Bank over lower govt support Moody's Investors Service has downgraded debt issued by IDBI Bank over concerns on "reduction in the amount of extraordinary government support incorporated into the bank's ratings and its weak standalone credit profile," the bank said.While earlier, Moody's used to assume t...
Oriental Bank of Commerce to raise Rs 500 cr via bonds State-owned Oriental Bank of Commerce said it intends to raise Rs 500 cr by selling bonds."The Bank intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of Rs.10,00,000 each at par aggregating to Rs.500 crore with an option ...
SBI, IOB and Corp Bank only PSBs to charge for mobile NEFT Only three public sector banks -- State Bank of India, Indian Overseas Bank and Corporation Bank -- levy charges on even the smallest money transfer done via mobile phones using the National Electronic Fund Transfer or NEFT facility, data compiled from public sector banks show. ...
Maruti Suzuki introduces hi-tech workshops under NEXA brand Maruti Suzuki today announced the launch of premium workshops and service centers under its 'NEXA' brand.The first NEXA Service workshop has been launched at Gurugram. NEXA Service will be expanded in phases, and Maruti Suzuki expects that nearly 300 NEXA Service workshops wi...
Mahindra launches fuel-efficient van under Jeeto brand to take on Maruti Suzuki Omni Automaker Mahindra & Mahindra launched a new minivan based on its Jeeto platform, priced at Rs 3.45 lakh before taxes.At the price, the van is likely to appeal to semi-commercial users, such as schools, institutions and shops. The company already has a similar offering on its...
Minda Corp raises Rs 25 cr via commercial paper Auto ancillary company Minda Corp said it had raised Rs 25 cr by issuing commercial paper.Commercial paper refers to unsecured, short-term promissory notes or debt issued by a company.These paper usually mature in a few weeks or months and are used for working capital an...
GMR closes funding for Mopa Airport, Axis Bank underwrites debt GMR Goa International Airports Limited said it closed funding for the upcoming Mopa Airport in Goa, with Axis Bank underwriting the entire debt of Rs 1,330 cr."Having tied up funding for the project, we are working towards starting on ground construction activity post monsoon...
Mahindra Finance to raise Rs 2,000 cr via debentures Non-banking financial services company Mahindra & Mahindra Financial Services said it plans to raise Rs 2,000 cr by issuing debt instruments to the public.The non-convertible debenture issue will open on July 10.The NCDs carry a rating of IND AAA from India Ratings and BW...
RCom says telcos facing cash flow issues due to ‘go slow’ approach by banks Telecom operator Reliance Communications said companies in the sector are facing cash flow issues due to what it called a 'go slow' approach taken by banks in disbursing loans.In an update on its 'standstill agreement' with its lenders, which provides it a window of seven mon...
HPCL appoints bankers for Rs 6,000 cr FCCB issue Hindustan Petroleum Corp Ltd said it had appointed banking intermediaries for organizing investor meetings in the run up to raising Rs 6,000 cr ($930 mln) by selling foreign-currency denominated bonds.The bonds will be non-convertible, and will be issued if the meetings disco...
SBI raises Rs 15,000 cr in India’s largest QIP State Bank of India said it raised Rs 15,000 cr by selling its shares in a 'qualified institutional placement' or QIP, making it the largest such transaction in Indian share market history.QIP's usually involve selling shares exclusively to big institutions such as mutual fun...
RCom ‘respectfully disagrees’ with Fitch and Moody’s on its credit rating Anil Ambani-led Reliance Communications said it disagrees with the decision of agencies Moody's and Fitch to downgrade the company's credit rating based on its 'standstill agreement' with its lenders.Shares of RCom fell 4% to Rs 19.30 on the National Stock Exchange today ...
Tata Elxsi signs up top-5 global automaker for driverless car design Tata Elxsi, the Tata Group's design and technology services company, said one of the top five carmakers in the world has licensed its driverless car software for use as part of its research and development in this direction.The test car on Tata Elxsi campusFurther detai...
RCom formally assures lenders it will pay Rs 25,000 cr in four months Anil Ambani Group's telecom arm Reliance Communications said it has 'formally' communicated to its lenders that it will pay an amount of Rs 25,000 cr to them on or before Sept 30.The latest statement from the telecom operator comes as a way of reassuring investors and lenders...
RCom says looking to refinance various payments till September Anil Ambani Group's Reliance Communications said it was in talks with its lenders and partners to put off some of the instalment payments that the company had to pay until the completion of its merger with Sistema Shyam Teleservices and Aircel Cellular by September this year....
Fitch Ratings upgrades Tata Motors on improving business performance JLR contributes most of the company's profitsFitch Ratings has upgraded its rating on Tata Motors by one notch, pointing to the automaker's improving business performance."The upgrade reflects the sustained improvement in TML's Indian automotive business over the last tw...
Despite discounts, Rs 5,000 cr worth of BS-III vehicles unsold Vehicle worth Rs 5,000 cr with BS-III certification could not be sold by the deadline of March 31, the Society of Indian Automobile Manufacturers said today.In addition, it said, the industry sustained a loss of about Rs 1,000-1,500 cr due to the deadline, it said, adding t...
US Fed unlikely to reverse quantitative easing this year: HDFC Securities US Federal Reserve BuildingBroking and financial firm HDFC Securities Ltd said it does not expect the US Federal Reserve to start sucking out the liquidity that it has infused into the global financial market in the last nine years any time soon.The comments came in the ...