Let’s have a detailed review of the company and analytics of the Mahindra & Mahindra Financial Services Ltd NCD release date, NCD issue size, subscription, Mahindra & Mahindra Financial NCD allotment and other details like the company’s background, its financial positions, its promoters and other related things.

Credit RatingCARE AAA (Triple A);Stable by CARE and IND AAA; Stable by India Ratings
Issue OpenJanuary 4, 2019
Issue CloseJanuary 25, 2019
Issue Size (Base)Rs. 500,00,00,000
Issue Size (Shelf)Rs. 35,00,00,00,000
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Tenor39 months/ 60 months/ 96 months/ 120 months
SeriesSeries I to Series IV
Payment FrequencyAnnual
Basis of Allotment

Mahindra & Mahindra Financial Services Ltd NCD – Basis of the Offer Price

ISSUE STRUCTURE
Security NameMahindra & Mahindra Financial Services Ltd
Security TypeSecured, Non-Convertible Debentures and Unsecured NCDs
Coupon payment frequencyAnnual
Coupon typeFixed
Tenor39 months/ 60 months/ 96 months/ 120 months
DepositoryNSDL and CDSL
DisbursementSEBI Debt Regulations
Debenture TrusteeAxis Trustee Services Limited

Mahindra & Mahindra Financial Services Ltd NCD Dates

The opening and the closing date of Mahindra & Mahindra Financial Services Ltd NCD is January 4, 2019 to January 25, 2019.


Mahindra & Mahindra Financial Services Ltd NCD Subscription

Day / DateQIB Category 1NII Category 2HNI Category 3RII Category 4Total Subscription
1st – 10th Day : till 19th Sept
10th – 20th Day : till
20th – 30th Day : till
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.


Mahindra & Mahindra Financial Services Ltd NCD Allotment Status

Here, you can find the Allotment Status of this NCD.


Mahindra & Mahindra Financial Services Ltd NCD Share Offering

Issue of 5,22,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. [ ] per Equity Share (including a share premium of Rs.[ ] per Equity share) aggregating Rs. [ ] lakhs.

Mahindra & Mahindra Financial Services Ltd NCD Allocation Ratio

NCD Allocation Ratio
CategoryNCD’s Allocated
QIB – Category 120%
NII – Category 220%
HNI – Category 330%
RII – Category 430%

Mahindra & Mahindra Financial Services Ltd NCD Offered

NCD’s Offered
CategoryNCD’s Reserved
QIB – Category 170,00,000
NII – Category 270,00,000
HNI – Category 31,05,00,000
RII – Category 41,05,00,000
Total NCD’s3,50,00,000

Mahindra & Mahindra Financial Services Ltd NCD Coupon Rates

SeriesIIIIIIIV
Frequency of Interest PaymentAnnualAnnualAnnualAnnual
Minimum Application₹ 10,000 (10 NCDs) across all Series collectively
In Multiples of thereafter₹ 1,000 (1 NCD)
Face Value of NCDs (₹/ NCD)₹ 1,000
Issue Price (₹/ NCD)₹ 1,000
Mode of Interest PaymentThrough various options available
Tenor39 months60 months96 months120 months
Coupon (%) for NCD Holders in
Category I and Category II
9.009.109.209.35
Coupon (%) for NCD holders in
Category III and Category IV
9.059.159.309.50
Effective Yield (per annum) for
NCD holders in Category I & II
9.029.129.219.35
Effective Yield (per annum) for
NCD holders in Category III & IV
9.079.179.319.50
Put OptionNANANANA
Call OptionNANANANA
Redemption Date39 months60 months96 months120 months
Nature of IndebtednessSecuredSecuredSecuredUnsecured
Redemption Amount (₹/NCD)₹ 1,000

Mahindra & Mahindra Financial Services Ltd NCD Issue Object

These are the NCD Issue Objects of the company

  • For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company; and
  • General corporate purposes

Mahindra & Mahindra Financial Services Ltd – Company Overview

They are one of the leading non-banking finance companies with customers primarily in the rural and semi-urban markets of India. They are primarily engaged in providing financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles. They also provide housing finance, manage mutual funds, personal loans, financing to small and medium enterprises, insurance broking and mutual fund distribution services.

In addition, they provide wholesale inventory financing to dealers and retail financing to customers in the United States for purchase of Mahindra tractors through Mahindra Finance USA LLC (MF USA), their joint venture with De Lage Landen Financial Services Inc., which is a member of the Rabobank Group. They are part of the Mahindra group, which is one of the largest business conglomerates in India.

They cater to the financing needs of retail customers and small and medium-sized enterprises. They primarily focus on providing financing for purchases of auto and utility vehicles, tractors, cars, commercial vehicles and construction equipment, pre-owned vehicles, and others


Mahindra & Mahindra Financial Services Ltd NCD Lead Managers

Lead Managers
EDELWEISS FINANCIAL SERVICES LIMITED

A. K. CAPITAL SERVICES LIMITED

AXIS BANK LIMITED

ICICI SECURITIES LIMITED

SBI CAPITAL MARKETS LIMITED

TRUST INVESTMENT ADVISORS PRIVATE LIMITED
YES SECURITIES (INDIA) LIMITED

Mahindra & Mahindra Financial Services Ltd NCD Debenture Trustee

Debenture Trustee
AXIS TRUSTEE SERVICES LIMITED
The Ruby 2nd Floor, SW,
29 Senapati Bapat Marg, Dadar West,
Mumbai- 400 028
Tel:+91 22 6226 0074/75
Fax:+91 22 4325 3000
Email:debenturetrustee@axistrustee.com
Investor Grievance Email:debenturetrustee@axistrustee.com
Website:www.axistrustee.com
Contact Person:Mr. Devraj Rao
SEBI Registration Number:IND000000494
CIN:U74999MH2008PLC18226

Mahindra & Mahindra Financial Services Ltd NCD Registrar to offer

Registrar to the Offer
KARVY FINTECH PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32,
Financial District, Nanakramguda,
Gachibowli, Hyderabad – 500 032
Tel:+91 40 67162222
Fax:+91 40 23001153
Email:einward.ris@karvy.com
Investor Grievance Email:mahindrafinance.ncdipo2@karvy.com
Website:www.karisma.karvy.com
Contact Person:Mr. M Murali Krishna
SEBI Registration Number:INR000000221
CIN:U74140TG2003PTC041636

Mahindra & Mahindra Financial Services Ltd NCD Ratings

The NCDs proposed to be issued under this Issue have been rated ‘CARE AAA (Triple A);Stable’ for an amount of Rs.10,000 crores, by Credit Analysis & Research Ltd. vide their letter dated September 29, 2018 and revalidated by revalidation letter dated December 18, 2018 and ‘IND AAA; Stable’ for an amount of Rs 10,000 crores, by India Ratings and Research Private Limited vide their letter dated October 3, 2018 and revalidated by revalidation letter dated and December 17, 2018.

The rating of NCDs by CARE and India Ratings indicate that instruments with this rating are considered to have highest degree of safety regarding timely servicing of financial obligations and carry lowest credit risk


Mahindra & Mahindra Financial Services Ltd NCD News

News 1 – Download RHP Prospectus


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