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Mahindra Finance Rs 3,088.82 crore rights issue to open on July 28

The company will issue 61.78 crore equity shares of face value of Rs 2 each (equity shares) at a price of Rs 50 per equity share aggregating to Rs 3,088.82 crore on a rights basis, a company release said.

July 28, 2020 / 01:33 PM IST

Non-banking financial company Mahindra and Mahindra Financial Services (Mahindra Finance) on Monday said its Rs 3,088.82 crore rights issue will open for subscription on July 28.

The company will issue 61.78 crore equity shares of face value of Rs 2 each (equity shares) at a price of Rs 50 per equity share aggregating to Rs 3,088.82 crore on a rights basis, a company release said.

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, that is July 23, 2020, it said.

The rights issue will close on August 11, 2020.