Mahindra Finance raises Rs 350 crore via debt

Mahindra and Mahindra Financial Services Ltd (Mahindra Finance) today said it has raised Rs 350 crore by issuing debt securities.

"A meeting of the duly authorised committee was held today, approving the allotment of secured redeemable non- convertible debentures of the face value of Rs 10 lakh each aggregating to Rs 350 crore," the company said in a regulatory filing.

The company has not given any detail about the usage of the proceeds.

Shares of Mahindra Finance closed 2.77 per cent up at Rs 438.95 apiece on BSE.

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