Business News | Muthoottu Mini NCD Gets Rs 108 Cr Oversubscription
Get latest articles and stories on Business at LatestLY. Muthoottu Mini Financiers Limited's issue of non-convertible debentures (NCDs) was oversubscribed to the tune of Rs 108 crore.
Kochi (Kerala) [India], October 1 (ANI/ATK): Muthoottu Mini Financiers Limited's issue of non-convertible debentures (NCDs) was oversubscribed to the tune of Rs 108 crore.
The 15th issue had a base issue size of Rs 125 crore with an option to retain over-subscription. The NCD with a triple B Plus: Stable rating by leading credit rating agency Care Ratings, will also be listed on the BSE. The NCD Issue had various options for the subscription with coupon rates ranging from 8.75% - 10% p.a.
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Commenting on the achievement, Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers Ltd, said "The achievement affirms our ability and experience to make great strides in this challenging phase. This is an inspiration to bring better services to more customers".
Muthoottu Mini currently has 8 Zonal offices and 800+ branches across 10 states, and 1 Union Territory spanning across India with over 3000+ employees.
The Assets Under Management (AUM) grew at a rate of 18 percent, interest income at 17.50 percent while Profit Before Tax (PBT) went up by 65 percent during FY 20-21.
Muthoottu Mini added 4 more lending banks taking the kitty to 10 banks and raised 700 Crore through listed public Non-Convertible Debenture (NCDs) issues.
This story is provided by ATK. ANI will not be responsible in any way for the content of this article. (ANI/ATK)
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