At meeting held on 18 July 2020
The Board of Mahindra & Mahindra Financial Services at its meeting held on 18 July 2020 has approved the following terms for proposed rights issue -a) Instrument: Fully paid-up Equity Shares of face value of Rs. 2 each;
b) Total number of Equity Shares and Issue size: 61,77,64,960 fully paid-up Equity Shares of face value of Rs. 2 each, for an aggregate amount not exceeding Rs. 3,089 crore*. *assuming full subscription
c) Issue Price: Rs. 50 (Rupees Fifty only) per fully paid-up Equity Share (including a premium of Rs. 48 per fully paid-up Equity Share). The entire Issue Price will be payable at the time of making the application in the Issue.
d) Record date: The Board also fixed the record date for the purpose of determining the Shareholders of the Company who will be eligible to receive Rights Entitlements in the Issue, as 23 July, 2020.
e) Rights Entitlement ratio: 1 (One) fully paid-up equity share for every 1 (One) fully paid-up equity share held by the eligible Equity Shareholders of the Company, as on the record date.
f) Issue period:
1. Issue Opening Date: Tuesday, 28 July, 2020 and
2. Issue Closing Date: Tuesday, 11 August, 2020
g) Outstanding Equity Shares:
(a) prior to the Issue: 61,77,64,960
(b) post the Issue: 123,55,29,920
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
