May 19, 2024 00:06 (IST)
Muthoot Finance to raise Rs 500 crore through Public Issue of NCD
Kochi, Dec 18 (IBNS): Muthoot Finance Ltd, a gold financing company in India, has opened a public issue of Non-Convertible Debentures-Secured & Unsecured (NCDs).
Through this NCD issue, the company plans to raise an amount up to Rs. 250 crore, with a right to retain oversubscription of Rs. 250 Crs, thus with a total issue size of Rs. 500 crores.
The issue opened on Dec 11 and will close on Jan 11, 2016, with an option for early closure.
The NCDs under this issue have been rated ‘AA-/Stable’ by CRISIL indicating high degree of safety regarding timely servicing of financial obligations and carrying very low credit risk.
The funds raised through this issue will be used primarily for lending activities.
This is 14th NCD Public Issue from Muthoot Finance with investment tenors ranging from 400 days to 87 months and is offering coupon rates ranging from 9.00% to 10.00% for individuals and corporates with monthly and annual coupon payment options or only maturity benefit options.
Post allotment, the NCDs will be listed on BSE.
ICICI Securities Ltd and A.K Capital Services Ltd are the Lead Managers to the Issue. IDBI Trusteeship Services Limited is the Debenture Trustee to the Issue, Link Intime India Pvt Ltd is the registrar to the Issue.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Car Insurance Add-Ons You Should Always Opt When Buying A New Car Sat, May 18 2024
JSW Steel Q4FY24 PAT drops 64% YoY to Rs 1,299 cr Sat, May 18 2024
Wipro’s Chief Operating Officer Amit Choudhary resigns, Sanjeev Jain to replace him Sat, May 18 2024
Bandhan Bank Q4FY24 net profit falls 94% to Rs 54.63 cr on higher provisioning, NII up 16% YoY; dividend declared Sat, May 18 2024
India must boost manufacturing to increase share in global value chains: FM Sitharaman Fri, May 17 2024
SpiceJet gets relief as Delhi HC reverses order upholding validity of arbitral award favoring Kalanithi Maran Fri, May 17 2024
Vikram Solar bags 397.7 MWp module supply order for NTPC’s Khavda Solar Project in Gujarat Fri, May 17 2024
Reliance Retail to sell UK's ASOS apparel in India Fri, May 17 2024