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Mahindra & Mahindra (M&M) is going to raise Rs 475 crore through issuing non-convertible debentures (NCDs) on a private placement basis.
M&M has said in a regulatory filing that “The Loans and Investment Committee… has approved issuance and offer of 4,750 rated, listed, unsecured, redeemable 7.57 percent secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating Rs 475 crore on a private placement basis.”
The company has not provided any information on utilisation of funds it plans to raise.
