Mahindra Financial Services to raise 2,250 cr via share sale

Mahindra and Mahindra Financial Services said the company board has approved a proposal to raise up to Rs 2,250 cr by selling shares or instruments convertible to shares.

It said a Securities Issue Committee has been set up to undertake decisions in relation to the proposed issuance.

Mahindra & Mahindra Financial Services Limited (MMFSL) is one of India’s leading Rural non-bank financial companies, headquartered in Mumbai.

It is among the top tractor financer in India and offers several other financial products as well.

It has over a 1,000 offices spread across and around 5 million customers.