A meeting of the committee of the board on March 28, 2022 approved the allotment of 2,500 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 255.45 crore, through private placement, Mahindra Finance said in a regulatory filing.
The tenure of the bonds is 9 years and 234 days, and the date of maturity is November 17, 2031.
The bonds carry coupon of 7.45 per cent per annum and the Extended Internal Rate of Return (XIRR) is 7.51 per cent.
XIRR is a single rate of return which is applied to each instalment (and any redemptions). It yields the current value of the entire investment.