Article

Mahindra Finance Rights Issue: Details, Price, Issue Size

30 Jul 2020

M&M Financial Services has a rural and semi-urban customer base as it is involved in financing new and pre-owned tractors, utility vehicles, cars and commercial vehicles. The purpose of the issue is to repay/prepay certain outstanding borrowings, augment long-term capital and resources for meeting funding requirements for the company’s business activities and for general corporate purposes.
 
The issue that has been announced at the steep discount is been managed by Kotak Mahindra Capital Company, ICICI Securities, BNP Paribas, Axis Capital, HDFC Bank, Citigroup Global Markets, HSBC Securities and Capital Markets (India), SBI Capital Markets, and Nomura Financial Advisory and Securities (India).

Issue Details

Equity Shares being offered by the Company

617,764,960 Equity Shares

Issue Size

₹ 3,088.82 Crore(Assuming full subscription)

Rights Entitlements

1 (one) Equity Share for every 1 Equity Share held on the Record

Date

Record Date

July 23, 2020

Issue Price

₹ 50 per Equity Share (including a premium of ₹ 48 per Equity

Share


How to apply M&M Financial Services Rights Issue? 
 
There are 3 ways to apply for M&M Rights. 
 
ASBA
For this option, you need to have a Demat Account. Search for M&M Financial Services Rights Issue, fill the required details and submit. 
 
R-WAP
You can visit rights.kfintech.com (website). Go to Mahindra Finance option there and click on R-WAP apply for rights issue option. Fill the required details and submit. You can make payment through net banking or UPI.
 
Offline 
You must have received an application form in your registered email id by the company. Fill in all the required details and submit the print out of the form to the bank, where you can pay by DD/cheque.  
Take a look at the video below to know in detail:

Should Investors Subscribe to the Rights Issue?

 

It is always advisable for an investor to look beyond the discount offered. The rights issue is different from the bonus issue as one is paying to get additional shares of the company. So, it is best to subscribe to it only if the investor is completely sure of the company’s long-term performance.

Issue Schedule

Issue Opening Date

Tuesday, July 28, 2020

Last Date For On Market Renunciation Of Rights

Entitlements*

Friday, August 7, 2020

 

Issue Closing Date^

Tuesday, August 11, 2020

Finalisation Of Basis Of Allotment (On Or About)

Thursday, August 20, 2020

Date Of Allotment (On Or About)

Friday, August 21, 2020

Date Of Credit (On Or About)

Tuesday, August 25, 2020

Date Of Listing (On Or About)

Thursday, August 27, 2020

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Mahindra Finance Rights Issue: Details, Price, Issue Size

30 Jul 2020

M&M Financial Services has a rural and semi-urban customer base as it is involved in financing new and pre-owned tractors, utility vehicles, cars and commercial vehicles. The purpose of the issue is to repay/prepay certain outstanding borrowings, augment long-term capital and resources for meeting funding requirements for the company’s business activities and for general corporate purposes.
 
The issue that has been announced at the steep discount is been managed by Kotak Mahindra Capital Company, ICICI Securities, BNP Paribas, Axis Capital, HDFC Bank, Citigroup Global Markets, HSBC Securities and Capital Markets (India), SBI Capital Markets, and Nomura Financial Advisory and Securities (India).

Issue Details

Equity Shares being offered by the Company

617,764,960 Equity Shares

Issue Size

₹ 3,088.82 Crore(Assuming full subscription)

Rights Entitlements

1 (one) Equity Share for every 1 Equity Share held on the Record

Date

Record Date

July 23, 2020

Issue Price

₹ 50 per Equity Share (including a premium of ₹ 48 per Equity

Share


How to apply M&M Financial Services Rights Issue? 
 
There are 3 ways to apply for M&M Rights. 
 
ASBA
For this option, you need to have a Demat Account. Search for M&M Financial Services Rights Issue, fill the required details and submit. 
 
R-WAP
You can visit rights.kfintech.com (website). Go to Mahindra Finance option there and click on R-WAP apply for rights issue option. Fill the required details and submit. You can make payment through net banking or UPI.
 
Offline 
You must have received an application form in your registered email id by the company. Fill in all the required details and submit the print out of the form to the bank, where you can pay by DD/cheque.  
Take a look at the video below to know in detail:

Should Investors Subscribe to the Rights Issue?

 

It is always advisable for an investor to look beyond the discount offered. The rights issue is different from the bonus issue as one is paying to get additional shares of the company. So, it is best to subscribe to it only if the investor is completely sure of the company’s long-term performance.

Issue Schedule

Issue Opening Date

Tuesday, July 28, 2020

Last Date For On Market Renunciation Of Rights

Entitlements*

Friday, August 7, 2020

 

Issue Closing Date^

Tuesday, August 11, 2020

Finalisation Of Basis Of Allotment (On Or About)

Thursday, August 20, 2020

Date Of Allotment (On Or About)

Friday, August 21, 2020

Date Of Credit (On Or About)

Tuesday, August 25, 2020

Date Of Listing (On Or About)

Thursday, August 27, 2020