NBFC Mahindra Finance Rs 3,088.82 crore rights issue will open for subscription on July 28.
The funds collected through this issue will be used to repay certain outstanding borrowings of the company, long-term capital and resources for meeting funding requirements for the company's business activities and for other purposes.
In the quarter ended June, it reported a standalone net profit of Rs 156 crore. During the quarter, its gross NPA stood at 9.19%. Net NPA was at 5.72%.
Mahindra Finance will issue Rs 61.78 crore equity shares of face value of Rs 2 each at a price of Rs 50 per equity share value to Rs 3,088.82 crore on a rights basis. The equity shares will be offered in the ratio of one equity share for every one equity share held by the eligible equity shareholders of the company as on the record date 23 Jul.
