Mahindra & Mahindra Ltd. on Friday said it will raise up to Rs 1,000 crore by issuing securities on private placement basis.
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"The loans and investment committee at its meeting held on Friday approved issuance and offer of 10,000 rated, listed, unsecured, redeemable, non- convertible debentures of face Rs 10,00,000 each aggregating Rs 1,000 crore on private placement basis," M&M said in a regulatory filing.
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The auto major, however, did not disclose the reasons for raising the capital.