Mahindra & Mahindra Financial Services Ltd (MMFSL) launched Public Issue of unsecured mmfsl logo 1subordinated redeemable non-convertible Debentures of 250 crores with an option to retain over subscription upto 1000 crores,  Issue open from 25 May 2016 and issue close on 10 June 2016. (Early Close 26 May 2016)

Before investment in this NCD check what  type of risk involved in Unsecured Subordinated debenture.

Subordinated debt has a lower priority than other bonds of the issuer in case of liquidation during bankruptcy and rank below: the liquidator, govt. tax authorities and senior debt holder in the hierarchy of creditor. Debt instruments with the lowest seniority are known as subordinated debt instruments. (Meaning of Subordinated Debt) Refer Draft Prospect page 27 

 Product Note

Mahindra & Mahindra Financial Services Ltd NCD Issue Highlights

IssuerMahindra & Mahindra Financial Services
Type of InstrumentUnsecured Redeemable, NCD
Issue Open25 May 2016
Issue Close10 June 2016 (with option of early closure or extension)
Issue Size250 Cr. with an option to retain oversubscription of 1000 Cr.
Face ValueRs. 1,000
Min. Application Size10 Bonds (Rs.10000) & multiply of 1 NCD thereafter (across all series NCD)
Interest Quarterly , Annually & Cumulative
Mode of AllotmentD'mat as well as Physical Form
Rating ICRA AAA & "IND AAA" by IRRPL
ListingBSE
Application Money Interest (refunded)5.00%
Allotment Money Interest7.50%
NRI Application not accepted

Specific Term of Issue – Retail Category (III & IV) 

OptionsIIIIIIIVVVI
Tenor66 M84 M120 M66 M84 M 120 M
Base Coupon - Cat III & IV8.44%8.53%8.72%8.70%8.80%9.00%
Face Value100010001000100010001000
Interest PaymentQuarterlyQuarterlyQuarterlyAnnual Annual Annual
SecurityUnSecuredUnSecuredUnSecuredUnSecuredUnSecuredUnSecured
Maturity100010001000100010001000
 
OptionsVIIVIIIIX
Tenor66 M84 M120 M
Base Coupon - Cat III & IVNANANA
Face Value100010001000
Interest PaymentCumulativeCumulativeCumulative
SecurityUnSecuredUnSecuredUnSecured
Maturity1582.751805.112368.49

  Cheque Details :

Cheque / DD should be drawn in favour of  “MMFSL NCD I Public Issue – Escrow Account   “ 

About Issue

About Company

Mahindra & Mahindra Financial Services is one of leading non-banking finance companies (NBFC) with customer primarily rural and semi urban market. Company is part of Mahindra Group, which is one of the largest business conglomerates in India. MMFSL is engaged in providing financing for new and pre-owned auto and utility vehicles, tractors, cars and commercial vehicles.  MMFSL also provide housing finance, personal loans, financing to small and medium enterprises, insurance broking and mutual fund distribution services. In addition company also provide wholesale inventory financing to dealers and retail finance to customers in the United States for purchase of Mahindra Group product through Mahindra Finance USA LLC, the joint venture with a subsidiary of the Rabobank group.

Subscription

Mahindra & Mahindra Financial Services data

mmfsl ncd subscription figure

Listing

Mahindra & Mahindra Financial Services  Ltd Allotment & Listing details

NCD -Mahindra & Mahindra Financial Services Ltd
Issue Open25 May 2016
Issue Close 26 May 2016
Issue RegistrarKarvy Computershare Pvt Ltd
Listing ExchangeBSE
Allotment Date06 June 2016
Listing Date09 June 2016
Interest Payment Date6 June for Yearly & 6 Sep/6Dec/ 6 Mar/ 6 June for Qtly Option
Face Value1000
Circular Ref. NoBSE - 20160608-6
Series1 A1 B2 A2 B3 A3 B
Coupon8.34%8.44%8.44%8.53%8.53%8.72%
Security DescUnsecureUnsecureUnsecureUnsecureUnsecureUnsecure
ISIN NoINE 774D08LP6INE 774D08LQ4INE 774D08LR2INE 774D08LS0INE 774D08LT8INE 774D08LU6
BSE Script 935730935732935734935736935738935740
Script ID834MMFSL21844MMFSL21844MMFSL23853MMFSL23853MMFSL26872MMFSL26
Maturity06-12-202106-12-202106-06-202306-06-202306-06-202606-06-2026
Maturity Amt100010001000100010001000
Series4 A4 B5 A5 B6 A6 B
Coupon8.60%8.70%8.70%8.80%8.80%9.00%
Security DescUnsecureUnsecureUnsecureUnsecureUnsecureUnsecure
ISIN NoINE 774D08LV4INE 774D08LW2INE 774D08LX0INE 774D08LY8INE 774D08LZ5 INE 774D08MA6
BSE Script 935742935744935746935748935750935752
Script ID86MMFSL2187MMFSL2187MMFSL2388MMFSL2388MMFSL269MMFSL26
Maturity06-12-202106-12-202106-06-202306-06-202306-06-202606-06-2026
Maturity Amt100010001000100010001000
Series7 B8 B9 A9 B
Coupon (Yield)8.70%8.80%8.80%9.00%
Security DescUnsecureUnsecureUnsecureUnsecure
ISIN NoINE 774D08MC2INE 774D08ME8INE 774D08MF5INE 774D08MG3
BSE Script 935754935756935758935760
Script IDMMFSL21MMFSL23MMFSL26MMFSL26A
Maturity06-12-202106-06-202306-06-202606-06-2026
Maturity Amt1582.751805.112325.362368.49

For Investment & any query , Kindly Write to us at

                       rajendra@puneinvest.com or

                          Call Rajendra 7719917444

https://i1.wp.com/www.puneinvest.com/wp-content/uploads/2016/05/mmfsl-logo-1.png?fit=168%2C123https://i0.wp.com/www.puneinvest.com/wp-content/uploads/2016/05/mmfsl-logo-1.png?resize=150%2C123RajendraNCDMahindra & Mahindra Financial Services Ltd (MMFSL) launched Public Issue of unsecured subordinated redeemable non-convertible Debentures of 250 crores with an option to retain over subscription upto 1000 crores,  Issue open from 25 May 2016 and issue close on 10 June 2016. (Early Close 26 May 2016) Before investment in this NCD check what  type...Investment you need