Mahindra Finance Rs. 3088.82 Crore Rights Issue to open on July 28, 2020

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Mumbai, July 27, 2020: Mahindra & Mahindra Financial Services Limited (“Mahindra Finance” or “Company”), a subsidiary of Mahindra & Mahindra Limited and one of the leading deposit taking non-banking finance companies in India, is scheduled to open its Rights Issue on July 28, 2020.

The Company will issue 617,764,960 fully paid-up Equity Shares of face value of Rs. 2 each for cash at a price of Rs. 50 per Equity Share (including a premium of Rs. 48 per Equity Share) aggregating to Rs. 30,888,248,000 on a rights basis to eligible equity shareholders in the ratio of one Equity Share for every one fully paid-up Equity Share held on the record date, that is July 23, 2020. The funds raised through the Issue will be used to repay/prepay certain outstanding borrowings of the Company, augment long term capital and resources for meeting funding requirements for the Company’s business activities and for general corporate purposes.

Mahindra Finance is primarily engaged in providing financing for new and pre-owned auto and utility vehicles (including three wheelers), tractors, cars and commercial vehicles and has customers primarily in the rural and semi-urban markets of India.

All investors proposing to apply in the Issue should refer to section “Terms of the Issue” read with “Risk Factors” beginning on pages 338 and 20, respectively of the Letter of Offer dated July 21, 2020 filed with BSE, NSE and SEBI.

Kotak Mahindra Capital Company Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets Private Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited are appointed as the lead managers to the Rights Issue.