Latest News | Muthoot Finance to Raise Up to Rs 1,000 Crore Via NCDs

Mumbai, Jan 2 (PTI) Gold loan focused non-bank lender Muthoot Finance on Tuesday said it will raise up to Rs 1,000 crore through a public issue of secured, redeemable non-convertible debentures.

The fresh non-convertible debentures (NCDs), which is the 33rd public issue of the largest gold loan financier with over Rs 60,000 crore of loan outstanding, has a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 900 crore.

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The issue opens on January 8 and closes on January 19 with an option to close on such earlier date or extended date as may be decided by the board, the Kochi-based company said in a statement.

The NCDs, which have been rated AA+ (stable) by Crisil and Icra, will be listed on the BSE post allotment.

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The issuer is offering seven investment options for the NCDs with monthly or annual interest payment frequency or on maturity redemption with interest rate ranging from 8.75-9 per cent per annum, the company's managing director George Alexander Muthoot said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)