Mahindra Logistics to raise up to Rs 250 cr

New Delhi, May 2 () Mahindra Logistics on Saturday said its board has approved raising up to Rs 250 crore through various means, including loans and debt issuances.

The borrowing will be done in one or more tranches, the company said in a regulatory filing.

The board of directors, at its meeting held Saturday, "approved borrowing of funds including by way of availing additional working capital facilities, credit facilities, term loans, issue of listed/unlisted Commercial Papers through private placement, issue of Non-Convertible Debentures through private placement up to an aggregate amount of Rs 250 crores", it said.

Mahindra Logistics is the logistics arm of the Mahindra Group. NAM NAM ABMABM