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Mahindra Finance raising NCDs worth Rs 600 crore

CHENNAI:

Mahindra Finance

has announced in a

stock market

filing on Friday that it is raising Rs 600 crore worth of secured redeemable

non-convertible debentures

(

NCDs

).

The approval is for allotment of 6,000 NCDs of the face value of Rs 10,00,000 each, at a par, aggregating to Rs 600 crore.

According to company sources, this money is to be used for working

capital

purposes.

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