The Board of directors of Mahindra & Mahindra Financial Services Limited had earlier approving a fund raising by the Company for an amount not exceeding Rs. 3,500 Crores (Rupees Three Thousand Five Hundred Crores), through a Rights Issue of its Equity Shares of face value of Rs. 2 each.
The Board of Directors, at its meeting held today, i.e., 18th July 2020 has approved the terms of the rights issue:
Instrument: Fully paid-up Equity Shares of face value of Rs. 2 each.
Total number of Equity Shares and Issue size: 61,77,64,960 fully paid-up Equity Shares of face value of Rs. 2 each, for an aggregate amount not exceeding Rs. 3,089 Crores
