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FINWIRES

Mahindra & Mahindra Financial Raises INR5 Billion Through Debenture Allotment

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-- Mahindra & Mahindra Financial Services (NSE:M&MFIN, BOM:532720) has raised 5 billion Indian rupees through the allotment of non-convertible debentures on a private placement basis, according to a Tuesday filing to the Indian stock exchanges.

The company allotted 50,000 listed, secured, rated, redeemable non-convertible debentures of the face value of 100,000 rupees per debenture.

The said debentures have been issued at a fixed coupon of 7.71% per annum and are proposed to be listed on the wholesale debt market segment of the BSE.

The company's shares were down nearly 2% in recent trade.

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