M&M to raise INR 5,000 Crore

MunnabhaiMBBS · 13th July 2016, 12:46

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.

Source:
http://auto.economictimes.indiatimes...crore/53184962

SmartCat · 13th July 2016, 14:07

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

13th July 2016, 12:46	#1
MunnabhaiMBBS BHPian Join Date: Jul 2014 Location: - Posts: 340 Thanked: 803 Times	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. Source: http://auto.economictimes.indiatimes...crore/53184962
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13th July 2016, 14:07	#2
SmartCat Team-BHP Support Join Date: Jun 2007 Location: Bangalore Posts: 6,425 Thanked: 42,919 Times View My Garage	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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