M&M Financial share price jumps 4% after allotment of NCDs worth ₹500 crore | Stock Market News

Stock market today: Shares of non-banking finance company (NBFC) Mahindra & Mahindra Financial Services (M&M Financial) witnessed a 4% increase on Thursday, February 27, after it informed that the Committee of Directors has approved the allotment of 50,000 non-convertible debentures (NCDs) to identified investors.

“We hereby inform you that, based on the successful bidding done at the BSE Bond-EBP Platform, the Committee of Directors has today approved the allotment of 50,000 Unsecured, Rated, Listed, Subordinated (Tier II), Redeemable Non-convertible Debentures (NCDs) of the face value of ₹1,00,000 per debenture, issued at par, with a coupon of 8.30% per annum for a tenor of 10 years from the date of allotment, on a private placement basis to the identified investors,” the exchange filing shared by the company today stated.

The said NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited, M&M Financial further informed.