MAHINDRA FINANCE

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• Old economy companies warm up to hybrid work culture for employees

  Companies such as Ceat, Tata Steel, ITC, Mahindra Finance, Thermax and Forbes Marshall are allowing flexible work options including hybrid working involving two-three day work from office and rest remote, permanent remote working, work-from-home (WFH) with fixed base location or work-from-anywhere (WFA) which does not require a fixed base location. The functions that are increasingly opening up for hybrid work include finance, human resources, legal, accounts and various tech roles.

  

• Mahindra Finance raises Rs 500 cr by issuing bonds

  Mahindra & Mahindra Financial Services (Mahindra Finance) on Tuesday said it has raised an amount aggregating Rs 500 crore by issuing secured bonds. A meeting of the committee of the board was held on Tuesday, February 15, 2022, approving the allotment of 5,000 secured redeemable non-convertible debentures aggregating to Rs 500 crore, Mahindra Finance said in a regulatory filing.

  

• Mahindra Finance announces entry into vehicle leasing and subscription business under ‘Quiklyz’ brand

  With the process of owing a vehicle at an inflection point, consumers today want to access vehicles earlier in their life and upgrade their vehicles faster than ever before. Leasing and Subscription model offered by ‘Quiklyz’ provides exactly that; where consumer pays a monthly fee to access the vehicle of their choice across all car brands, at a lower price point versus regular car ownership.

  

• NBFC crisis is company specific, not industry: Ramesh Iyer

  Good performing NBFCs can focus on any asset class and geography, and will still have a edge over the rest, says Ramesh Iyer, VC & MD at Mahindra Finance.

  

• IFC invests Rs 640 crore in Mahindra Finance

  Mahindra Finance will use the funds to extend loans to individuals, including farmers, along with financing small and medium enterprises.

  

• Mahindra Finance plans bond issue aggregating up to Rs 2,000 crore

  The bonds will offer interest rates in the range of 7.75-8.05 per cent with 7, 10 and 15 year maturities.