M''M Finance to Raise Rs 3,000 Crore via Rights Issue
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Mahindra ''Mahindra Financial Services to raise up to Rs 3,000 crore through a simplified rights issue. The company's board approved the move at its meeting on Friday.
Illustration: Dominic Xavier/Rediff.com
New Delhi, May 2 (PTI) Mahindra & Mahindra Financial Services on Friday said its board has approved to raise up to Rs 3,000 crore by way of rights issue as per the simplified process.
The company's board on February 13, 2025, approved a fund raise of up to Rs 3,000 crore by way of rights issue to eligible shareholders, the non-banking finance company said in a regulatory filing.
"Accordingly, to avail benefits of the same, the Board of Directors of Mahindra & Mahindra Financial Services (MMFSL) at its meeting held today have passed a fresh resolution to approve fund raise of up to Rs 3,000 crore by way of rights issue under the simplified rights issue process," the company said.
Shares of the company on Friday ended 0.34 per cent up at Rs 262.45 apiece on BSE.
The company's board on February 13, 2025, approved a fund raise of up to Rs 3,000 crore by way of rights issue to eligible shareholders, the non-banking finance company said in a regulatory filing.
"Accordingly, to avail benefits of the same, the Board of Directors of Mahindra & Mahindra Financial Services (MMFSL) at its meeting held today have passed a fresh resolution to approve fund raise of up to Rs 3,000 crore by way of rights issue under the simplified rights issue process," the company said.
Shares of the company on Friday ended 0.34 per cent up at Rs 262.45 apiece on BSE.
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