Deal Highlights

• Mahindra & Mahindra Financial Services Limited (“MMFSL”) is one of the leading deposit taking NBFCs with customers primarily in rural & semi-urban markets of India
• Largest ever fund raise by an NBFC via a rights issue, 2nd Largest  rights issue in BFSI Sector and 2nd ever Rights Issue from the Mahindra Group
• The issue was subscribed ~1.3x with significant demand from both domestic and foreign investors
• Attractively priced with a steep discount to the last closing price before the announcement of terms of the issue
• MMFSL will utilize the net proceeds of the issue for repayment/ prepayment of certain outstanding borrowings , augmenting the long-term capital and resources for meeting funding requirements and general corporate purposes

SBICAPS Value Add

• SBICAPS harnessed its inimitable domestic outreach with investors to ensure participation from the largest domestic institutional holders of the Company  including LIC, SBI MF, SBI PMS and Axis MF
• On the retail front, SBICAPS enabled the deep ASBA-ready branch network of SBI and connected with its huge customer base and numerous retail shareholders through SBICAPS Securities.
• SBICAPS was the coordinator for drafting and approval of all statutory advertisement
• Successfully completed the transaction during the tough Covid-19 times coupled with new system of issuing and trading of Rights Entitlements in Demat mode