Mahindra to raise Rs 500 cr via NCDs

Mahindra & Mahindra (M&M) on Friday said it will raise Rs 500 crore through issuance of securities on a private placement basis

The loans and investment committee has approved issuance and offer of 5,000 rated, listed, unsecured, redeemable non-convertible debentures of Rs 10 lakh each aggregating Rs 500 crore, M&M said in a regulatory filing

The auto major did not elaborate on the reasons for raising the capital.