Tech Mahindra to raise Rs 300 crore via NCDs
Tech Mahindra to raise Rs 300 crore via NCDs with tenure of 4 & 5 yrs reports CNBC TV18 quoting Sources. Tech Mahindra NCDs to have coupon rate of 10.25%. Tech Mahindra to also raise Rs 275 crore via CPS. Tech Mahindra NCDs: Yes Bank: Rs 150 cr, Corporation Bank: Rs 100 cr, Birla Sunlife Insurance: Rs 25 cr, Kotak Life: Rs 25 cr, ICICI Pru Life: Rs 150 cr, GIC: Rs 75 cr. Subscribers response: Corporation bank says considering subscribing Rs 100 cr. ICICI Pru AMC refused to comment. Deustche AMC confirms receiving proposal. GIC denies subscription to Rs 75 cr. UTI MF considering subscribing Rs 100 cr; yet to decide between NCDs or CPS. Reliance MF subscribed to Rs 275 cr CPS for 1 yr. Tech Mahindra is required to deposit the total acquisition fund by 5pm April 21.
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