Mahindra Finance: Pioneering non-banking finance in the rural & semi-urban sectors of India.
We were incorporated on January 1, 1991 as Maxi Motors Financial Services Limited and received certificate of commencement of business on February 19, 1991 . Our name was changed to Mahindra & Mahindra Financial Services Limited on November 3, 1992 . We are registered with the RBI as an NBFC with effect from September 4, 1998 under Section 45IA of the Reserve Bank of India Act 1934.
Key events in our business history
1993
Commenced financing of M&M UVs
1995
Opened our first branch outside Mumbai, at Jaipur
1996
Commenced financing M&M dealers for purchase of tractors
1998
Launched pilot project for retail tractor financing
1999
Commenced tractor retail financing in rural and semi-urban areas
2001
Total Assets crossed Rs. 10 billion
2002
Commenced financing of non-M&M vehicles
Received Tier II debt from International Finance Corporation
Made our first securitisation transaction of Rs. 434.8 million
2004
Received a long-term credit rating of AA+/Stable
Opened a branch in Port Blair
Listing of non convertible debentures on BSE on the wholesale debt market segment
Securitisation of tractor assets of Rs. 256.6 million
2005
Tied up with HPCL
Made MIBL our wholly owned subsidiary
2006
Issued our IPO
Tied up with Maruti
Launched our marketing campaign
Reached a new benchmark with 400 branches
Mahindra Finance: Pioneering non-banking finance in the rural & semi-urban sectors of India.
