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|13th July 2016, 12:46||#1|
Join Date: Jul 2014
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M&M to raise INR 5,000 Crore
In order to increase resources for ongoing capital expenditure, long term /short term working capital and for general corporate purpose, Mahindra and Mahindra to move the motion seeking shareholders' permission to raise funds in Annual general meeting on 10th Aug.
Company plans to raise INR 5,000 crore by offering securities, including but not limited to, non-convertible debentures and or commercial paper for an amount not exceeding Rs 5,000 crore.
It is to be noted that M&M received shareholders' approval to raise similar amount in last year's AGM (Aug 2015) but the company did not go ahead with fund raising plan due to undisclosed reasons.
Since the said approval is valid for a year, M&M again needs to approach shareholders to raise funds.
|13th July 2016, 14:07||#2|
Distinguished - BHPian
Join Date: Jun 2007
Thanked: 13,032 Times
Re: M&M to raise INR 5,000 Crore
It's like you or me taking a small personal loan for a foreign holiday trip.
M&M, on a standalone basis, has an operating profit for Rs. 5,000 Crores
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