Tech Mahindra said that it has recently raised Rs 75 crore through redeemable non-convertible debentures (NCD) carrying tenures of 12,18,24 and 30 months and a coupon rate ranging from 7.25 % for 12 months to 8.85 % for 30 months.

The NCDs are rated AAA by CARE.

The company plans to utilize the funds to repay existing high cost debt.