Mahindra & Mahindra Financial Services Limited announced that basis the successful bidding done at the BSE Bond-EBP Platform, the Committee of Directors have approved the allotment of 40,000 Unsecured, Redeemable Subordinated (Tier II) Non-convertible Debentures ("NCDs") of the face value of INR 100,000 per debenture issued at a premium of INR 377.50 and accrued interest of INR 1,026.63935 per debenture, aggregating to subscription amount of INR 4056.16 million, on private placement basis to the identified investors. The said NCDs have been issued at a Fixed Coupon of 8.35% p.a. with effective yield (XIRR) at 8.28% and are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.