Mahindra Financial to raise Rs. 15,000 Crore via Bond Sales
Mahindra and Mahindra Financial Services Ltd. are looking to raise Rs. 10,000-15,000 crore this fiscal year via multiple routes including a bond sale, informed Ramesh G.Iyer, company's vice chairman and managing director on Monday.
Mahindra Financial is expecting Rs. 24,000 to come from the repayment of loans. The balance has been strategized to raise from the sale of bonds, banks, and financial institutions.
The company is looking forward to injecting fresh capital that could reinforce lending to Rs. 35,000-37,000 crore this year, Iyer informed.
The company’s shareholders have already cleared an enabling resolution to raise up to Rs. 40,000 crore and the rural non-banking finance firm has plans to raise up to $300 million from rupee-denominated offshore debt instruments.
Iyer ...