MAHINDRA AND MAHINDRA FINANCIAL SERVICES LTD-IPO

Issue Opens: 21 February, 2006
Issue Closes: 24 February, 2006
Issue Size : 20,000,000 (No. of Shares)

Lower Price Band : Rs.170
Upper Price Band : Rs.200

Application Multiple: 35 and in multiples there off starting with atleast 35 shares

Information URL : http://www.mahindrafinance.com
Prospectus URL : http://www.sebi.gov.in/dp/mahindrafindraft.pdf

About the Company:
Mahindra & Mahindra Financial Services Limited (MMFSL) is a non banking finance company from the House of Mahindras established with a view to provide finance to the prospective buyers of Mahindra range of utility vehicles and tractors. MMFSL is a leading rural finance company in the organized private sector.

MMFSL was incorporated during the year 1991 with participation mainly from Mahindra & Mahindra Ltd. (M&M), Kotak Mahindra and Mahindra Dealers. MMFSL is a subsidiary of M&M with M&M holding 97%.

MMFSL has a wide network of 290 branches (as on 30th September 2005) spread mainly in semi-urban and rural areas across the country.

MMFSL extends finance through hire purchase / loan and lease modes. The Company designs tailor made scheme suitable for each product and each location. The company has a client base of over 3 lacs.

The company also extends finances for purchase of non-competing products like cars of reputed manufacturers like Maruti, Hyundai, Tata Motors. MMFSL also finances pre-used vehicles.

The company has a subsidiary called Mahindra Insurance Brokers Ltd to undertake insurance broking business. MIBL has obtained the necessary licence from Insurance Regulatory & Development Authority (IRDA) to undertake direct broking activities for both, life and general insurance businesses.