Mahindra Finance- non banking financial company of Mahindra group today raised Rs 866.80 crore through its Qualified Institutions Placement (QIP) issue and. The company had secured the mandate from its board to raise up to Rs 925 crore.
In a notice given to the bourses, company said that 97,50,257 equity shares of face value Rs 10 were allotted to the institutional buyers at an issue price of Rs 889 per share.
The company had set a floor price of Rs 880.70 for the issue.
Bankers to the issue were Kotak Securities, Citi, JM Financial, HSBC and Deutsche Bank.