Auto major Mahindra & Mahindra will seek shareholders’ approval for an enabling resolution to raise Rs5,000 crore through issuance of securities. The company had in the last AGM held on August 7, 2015 had received approval from its shareholders to raise the said amount through issuance of securities, including but not limited to secured/unsecured redeemable Non-convertible Debentures and/or Commercial Papers under private placement basis, Mahindra & Mahindra said in a BSE filing.
“It has till date ot issued any securities pursuant to this approval. Since the nod of the shareholders in case of offer or invitation for non-convertible debentures has a validity of one year.”