We were incorporated on January 1, 1991 as Maxi Motors Financial
Services Limited and received certificate of commencement of business
on February 19, 1991. The name was changed to Mahindra & Mahindra
Financial Services Limited on November 3, 1992. We are registered
with the RBI as an NBFC with effect from September 4, 1998 under
Section 45IA of the Reserve Bank of India Act 1934.
Key Events in our business history
Calendar Year Event
1993 Commenced financing of M&M UVs
1995 First branch opened outside Mumbai, at Jaipur
1996 Commenced financing M&M dealers for purchase of
1998 Launched pilot project for retail tractor
1999 Commenced tractor retail financing in rural and
2001 Total Assets crossed Rs. 10 billion
2002 Commenced financing of non-M&M vehicles
Received Tier II debt from International
Our first securitisation transaction of Rs.
2004 Long term credit rating of AA+/Stable
Branch opened in Port Blair
Listing of non convertible debentures on
BSE on the wholesale
debt market segment
Securitisation of tractor assets of Rs.
2005 Tie-up with HPCL
MIBL became our wholly owned subsidiary
Commenced distribution of third party
-Following a successful IPO, subscribed nearly 27 times more,
Mahindra & Mahindra Financial Services Ltd (MMFSL) priced its shares
at Rs 200 each. The original price band for the issue of two crore
shares of Rs 10 each, for cash at a premium decided through the
book-built process, had been fixed at Rs 170-200 a share.
-Mahindra & Mahindra Financial Services Limited has informed that Mr.
Narayan Shankar has ceased to be the Company Secretary of the company
with effect from October 26,2006. Ms. Angarika Baviskar would
continue to hold the post of Deputy Company Secretary and Compliance
Officer of the company.
-Tied up with Maruti Udyog Limited.
-Reached a new benchmark with 400 branches.
-Commenced Home Loans Business through our subsidiary Mahindra Rural
Housing Finance Limited.
-Received 12.5% equity participation from NHB for our Subsidiary
Mahindra Rural Housing Finance Ltd.
-Preferential allotement of shares to Standard Chartered Private
Equity Ltd. & TPG Axon Private Equity Ltd.
-Commenced Fixed Deposits Program.
- More than 2 lakh new customer contracts in a financial year for the
- Branch network crosses 550 branches.
- Maiden QIP Issue.
- Joint Venture with Rabobank subsidiary for tractor financing in
- Mahindra Finance wins the inaugural Porter Prize in the category of
Creating Distinctive Value.
- Mahindra Finance are first runners up at CNBC TV18 Best Bank &
Financial Institution awards.
- Ranked 9th in the prestigious Dun & Bradstreet's India's Top 500
Companies 2011(released on 1st June, 2012), based on the total income
in the FIs/ NBFCs/ Financial Services Sector.
-Company has splits its Face value of Shares from Rs 10 to Rs 2