Mumbai: Mahindra & Mahindra Financial Services Ltd announced on Saturday that it would be raising Rs 414.2 crore through a preferential allotment of 1.09-crore equity shares to two private equity funds at a price of Rs 380 per share. The price represents a premium of over 20% to today's closing price of Rs 315 per share.
The board of directors, which met on January 18, approved the issue of 70 lakh equity shares to funds managed by TPG Axon Capital (TAC) and 39 lakh equity shares to funds managed by Standard Chartered Private Equity (SCPE) at a price of Rs 380 per share. With this investment, TAC and SCPE will own 7.22% and 4.02%, respectively, of the post issue equity capital of the company.
• Check out our Yearender Special
Kotak Investment Bank was the exclusive financial advisor for the transaction.
The board of directors, which met on January 18, approved the issue of 70 lakh equity shares to funds managed by TPG Axon Capital (TAC) and 39 lakh equity shares to funds managed by Standard Chartered Private Equity (SCPE) at a price of Rs 380 per share. With this investment, TAC and SCPE will own 7.22% and 4.02%, respectively, of the post issue equity capital of the company.
• Check out our Yearender Special
Kotak Investment Bank was the exclusive financial advisor for the transaction.
No comments:
Post a Comment