M&M Fin files offer document with Sebi

Mahindra & Mahindra Financial Services (MMFS), the non-banking finance arm of Mahindra & Mahindra (M&M), today filed the draft red herring prospectus with Sebi for the proposed issue of two crore shares of Rs 10 each.

According to an official release issued by MMFS today, the issue comprises of a fresh issue of one crore equity shares of Rs 10 each and an offer for sale of one crore equity shares by existing shareholders.

MMFS provides loans for purchase of utility vehicles and tractors manufactured by M&M, purchase of cars of reputed manufacturers and pre-owned vehicles, the release added.