M&M To Raise Rs 1,000 Crore Via NCDs

Mahindra & Mahindra Ltd. on Friday said it will raise up to Rs 1,000 crore by issuing securities on private placement basis.

"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 value Rs 10,00,000 each aggregating Rs 1,000 crore on private placement basis," M&M said in a regulatory filing.

The auto major, however, did not disclose the reasons for raising the capital.