LATEST NEWS : Muthoot Finance plans to raise up to Rs 1,400 crore through a public issue of NCDs, the subscription for which opens on Tuesday.
The non-convertible debentures (NCDs) will have face value of Rs 1,000 each, aggregating to Rs 1,300 crore, and unsecured NCDs of Rs 1,000 each aggregating to Rs 100 crore, totalling up to Rs 1,400 crore, the Kochi-based gold finance company said in a release.
"The tranche issue is with a base issue size of Rs 200 crore with an option to retain over-subscription up to shelf limit of Rs 1,400 crore," it said.
Muthoot Finance said it will utilise the funds raised through this issue to lending activities of the company.
The company will offer 10 investment options for secured NCDs with monthly or annual interest payment or on maturity with effective yield ranging from 8.25 to 9.25% for retail investors.
The non-convertible debentures (NCDs) will have face value of Rs 1,000 each, aggregating to Rs 1,300 crore, and unsecured NCDs of Rs 1,000 each aggregating to Rs 100 crore, totalling up to Rs 1,400 crore, the Kochi-based gold finance company said in a release.
"The tranche issue is with a base issue size of Rs 200 crore with an option to retain over-subscription up to shelf limit of Rs 1,400 crore," it said.
Muthoot Finance said it will utilise the funds raised through this issue to lending activities of the company.
The company will offer 10 investment options for secured NCDs with monthly or annual interest payment or on maturity with effective yield ranging from 8.25 to 9.25% for retail investors.
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