India’s Mahindra plans to issue up to Rs. 50 billion of debentures

By Sarah Lizee

Olympia, Wash., May 21 – Mahindra & Mahindra Ltd. informed the Bombay Stock Exchange that its board will meet on May 29 to consider an issue of up to Rs. 50 billion of secured/unsecured redeemable nonconvertible debentures.

The debentures will be issued on a private placement basis, subject to the approval of the shareholders at the annual general meeting.

Mahindra & Mahindra is a Mumbai-based manufacturer of tractors and light commercial vehicles.

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