Non-bank lender Mahindra & Mahindra Financial Services Ltd (MMFSL) on Thursday (May 8) launched a ₹2,996.16-crore rights issue, with the board approving key terms on May 8 following in-principle approvals from the BSE and NSE.
The issue will offer 15.44 crore fully paid-up equity shares at ₹194 apiece, including a premium of ₹192 per share. The entire amount will be payable at the time of application. The rights entitlement ratio has been set at one equity share for every eight fully paid-up equity shares held as on the record date of May 14, 2025.
The issue opens on May 22. The last date for on-market renunciation of rights entitlements (REs) is June 3, while off-market renunciations will be accepted until June 5. The issue will close on June 6, 2025.
Also Read: Mahindra & Mahindra Q4 Results: Revenue up 25% from last year, margin expands and beats estimates
For the third quarter, Mahindra & Mahindra Financial Services reported a 63% year-on-year (YoY) increase in standalone profit after tax to ₹899 crore. Its profit was ₹553 crore in the October-December quarter of 2023-24. Mahindra Finance’s total income was ₹4,144 crore during the December 2024 quarter, up 19% YoY.
The company said it leveraged the buoyancy of the festive season demand in Q3 with disbursements of ₹16,467 crore reflecting a YoY growth of 7%. The disbursement for the first nine months stands at approximately ₹42,370 crore, which is 4% over the previous year.
Shares of Mahindra and Mahindra Financial Services Ltd ended at ₹255.15, down by ₹6.15, or 2.35%, on the BSE.
Also Read: Mahindra & Mahindra Q4 Results: Revenue up 25% from last year, margin expands and beats estimates
(Edited by : Shoma Bhattacharjee)
