Breaking News

You are here » Indian-Commodity  :  Corporate  :  Mahindra Finance raises Rs 1,055 crore on preferential basis

30-Nov2017

Mahindra Finance raises Rs 1,055 crore on preferential basis

Mahindra & Mahindra Financial Services (Mahindra Finance) has received an approval for allotment of 2,50,00,000 equity shares of face value Rs 2 each to Mahindra & Mahindra (M&M), the holding company, at the Issue Price of Rs 422 per equity share, aggregating to Rs 1,055 crore. The Securities Issue Committee of the Board of Directors of the Company at its meeting held on November 30, 2017 has approved for the same.

Pursuant to this allotment, the paid-up share capital of the company stands increased from 56,87,64,960 equity shares to 59,37,64,960 equity shares and the percentage shareholding of M&M stands increased from 51.20% to 53.25%.

Mahindra & Mahindra Financial Services is one of India's leading non-banking finance companies.


Related News

View all news

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......

Crisil downgrades DHFL's commercial papers worth Rs 850 crore

Credit Rating Agency Crisil has downgraded Dewan Housing Finance Corporation's commercial paper worth Rs 850 crore from A3+ to A4+. Its rating also continues to be on 'Rating Watch with Negative Implications'.......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......