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Mahindra & Mahindra Financial Services > Company History > Finance - Leasing & Hire Purchase > Company History of Mahindra & Mahindra Financial Services - BSE: 532720, NSE: M&MFIN
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Mahindra & Mahindra Financial Services

BSE: 532720|NSE: M&MFIN|ISIN: INE774D01024|SECTOR: Finance - Leasing & Hire Purchase
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Company History - Mahindra & Mahindra Financial Services
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
 tractors
 1998                  Launched pilot project for retail tractor
 financing
 1999                  Commenced tractor retail financing in rural and
 semi-urban areas
 2001                  Total Assets crossed Rs. 10 billion
 2002                  Commenced financing of non-M&M vehicles
                           Received Tier II debt from International
 Finance Corporation
                           Our first securitisation transaction of Rs.
 434.8 million
 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.
 256.6 million
 2005                  Tie-up with HPCL
                           MIBL became our wholly owned subsidiary
                           Commenced distribution of third party
 mutual funds
 
 2006
 
 -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.
 
 2007
 -Commenced Home Loans Business through our subsidiary Mahindra Rural
 Housing Finance Limited.
 
 2008
 -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.
 
 2009
 -Commenced Fixed Deposits Program.
 
 2010
 
 - More than 2 lakh new customer contracts in a financial year for the
 first time.
 
 - Branch network crosses 550 branches.
 
 
 2011
 
 - Maiden QIP Issue.
 
 - Joint Venture with Rabobank subsidiary for tractor financing in
 USA.
 
 2012
 
 - 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.
 
 2013
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
 -M&M Fin.Services Woori Financials & Mahindra Finance sign MOU for
 Joint Venture
 -Winner of the prestigious Golden Peacock Award for Excellence in
 Corporate Governance.
 
 2014
 -MIBL declared 'Broker of the Year' at 18th Asia Insurance 
 -India Ratings and Brickworks Ratings upgraded Company's long term
 debt rating to AAA. CARE Ratings also assigned AAA rating to
 Company's long term debt.
 
 2015
 -Mahindra Finance wins the Golden Peacock National Training Award
 
 2016
 -M&M Fin.Services SEBI grants licence to Mahindra Mutual Fund
 -M&M Fin.Services Ranked 5th in Financial Services Sector in India
 
 2017
 - Significant Achievement in HR Excellence
 - Mahindra Finance has been included in the Sustainability Yearbook
 2017
 - Mahindra Finance is Certified as a Great Workplace.
 - Mahindra Finance bagged the Inspectrum-Rise through Diversity
 Award
 - SKOCH Order of Merit for Corporate Social Responsibility
 - SKOCH Order of Merit for Good Health and Well Being	
 - SKOCH Order of Merit for Focused Talent Pool
 - Mahindra Finance Included in The Sustainability Yearbook 2017
 - MMFSL enters INDIA BOOK OF RECORDS by conducting the Largest
 Learning Session in a Day at Multiple Location
 - Commended with Significant Achievement in HR Excellence at the 7th
 Confederation of Indian Industry (CII) HR Excellence Award 2016.
 - Conscious Capitalist of the Year
 - Mahindra Finance is listed in Dow Jones Sustainability Index (DJSI)
 for the 4th year in a Row.
 - Mahindra Finance has been bestowed with the national award for
 excellence in its CSR Initiatives
 - Participation in Resource Mobilization for humanitarian cause
 - Winners in the category of organization with a turnover of Rs. 501
 Crores and above for Innovation in Recruitments
 - Mahindra Finance was honored as Best Overall Excellence in CSR in
 the organizational Category .
 - Mahindra Finance Ranked 68th among 791 employers surveyed in India
 
 - Mahindra Finance Ranked 5th in Financial Services Sector in India
 - Mahindra Finance Ranked 3rd in Workplace Transformation Case Study
 - Mahindra Finance wins the Golden Peacock National Training Award
Source : Dion Global Solutions Limited
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