Mahindra & Mahindra Financial Services Ltd NCD Dates, Size, Allotment, Subscription, DRHP & more
Last Updated Date: Nov 17, 2022Let’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 Rating | CARE AAA (Triple A);Stable by CARE and IND AAA; Stable by India Ratings |
| Issue Open | January 4, 2019 |
| Issue Close | January 25, 2019 |
| Issue Size (Base) | Rs. 500,00,00,000 |
| Issue Size (Shelf) | Rs. 35,00,00,00,000 |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Tenor | 39 months/ 60 months/ 96 months/ 120 months |
| Series | Series I to Series IV |
| Payment Frequency | Annual |
| Basis of Allotment |
Mahindra & Mahindra Financial Services Ltd NCD – Basis of the Offer Price
| ISSUE STRUCTURE | |
| Security Name | Mahindra & Mahindra Financial Services Ltd |
| Security Type | Secured, Non-Convertible Debentures and Unsecured NCDs |
| Coupon payment frequency | Annual |
| Coupon type | Fixed |
| Tenor | 39 months/ 60 months/ 96 months/ 120 months |
| Depository | NSDL and CDSL |
| Disbursement | SEBI Debt Regulations |
| Debenture Trustee | Axis 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 / Date | QIB Category 1 | NII Category 2 | HNI Category 3 | RII Category 4 | Total 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 | |
| Category | NCD’s Allocated |
| QIB – Category 1 | 20% |
| NII – Category 2 | 20% |
| HNI – Category 3 | 30% |
| RII – Category 4 | 30% |
Mahindra & Mahindra Financial Services Ltd NCD Offered
| NCD’s Offered | |
| Category | NCD’s Reserved |
| QIB – Category 1 | 70,00,000 |
| NII – Category 2 | 70,00,000 |
| HNI – Category 3 | 1,05,00,000 |
| RII – Category 4 | 1,05,00,000 |
| Total NCD’s | 3,50,00,000 |
Mahindra & Mahindra Financial Services Ltd NCD Coupon Rates
| Series | I | II | III | IV |
| Frequency of Interest Payment | Annual | Annual | Annual | Annual |
| 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 Payment | Through various options available | |||
| Tenor | 39 months | 60 months | 96 months | 120 months |
| Coupon (%) for NCD Holders in Category I and Category II |
9.00 | 9.10 | 9.20 | 9.35 |
| Coupon (%) for NCD holders in Category III and Category IV |
9.05 | 9.15 | 9.30 | 9.50 |
| Effective Yield (per annum) for NCD holders in Category I & II |
9.02 | 9.12 | 9.21 | 9.35 |
| Effective Yield (per annum) for NCD holders in Category III & IV |
9.07 | 9.17 | 9.31 | 9.50 |
| Put Option | NA | NA | NA | NA |
| Call Option | NA | NA | NA | NA |
| Redemption Date | 39 months | 60 months | 96 months | 120 months |
| Nature of Indebtedness | Secured | Secured | Secured | Unsecured |
| 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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