December 1, 2017 / 8:14 AM / 2 months ago

REFILE-BUZZ-India's Mahindra & Mahindra Financial Services hits record high on share sale

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** Mahindra and Mahindra Financial Services Ltd rises as much as 5.2 pct to a record high of 461.2 rupees

** The non-bank financier raises up to 10.56 bln rupees ($164 mln) by selling new shares to institutions - term sheet seen by Reuters

** Co is selling up to 24 mln shares, or 4 pct of its current equity capital, IFR reports

** Fund raising to help boost capital adequacy ratio

** Kotak, Citi, ICICI, JM Financial and Nomura joint bookrunners for share sale

** Stock has risen 62.2 pct this year up to Thursday ($1 = 64.4800 Indian rupees)

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