Muthoot Finance to raise Rs 300 crore in their 28th Public Issue of Secured Redeemable Non-Convertible Debentures
This issue of Secured Redeemable Non-Convertible Debentures will be open to subscription starting October 6, 2022 till October 28, 2022
Muthoot Finance Ltd has announced its 28th public issue of Secured Redeemable Non-Convertible Debentures of the face value of Rs1,000 each. The issue is with a base issue size of Rs 75 crore with an option to retain over-subscription up to Rs 225 crore aggregating up to the tranche limit of Rs 300 crore. This issue will be open from October 6 and will close on October 28, 2022, with an option to close on such an earlier date or an extended date as may be decided by the Board of Directors or NCD committee.
The proposed NCDs which are to be issued have been rated as AA+ (Stable) by ICRA denoting a “high degree of safety regarding timely servicing of financial obligations”. The basic criteria to allot the proposed NCDs to the investors is on a first come first serve basis.
Muthoot Finance offers its Individual Investors 7 investment options for Secured NCDs with ‘Monthly’ or ‘Annual’ interest payment frequency or ‘on maturity redemption’ payments with coupons ranging from 7.50 per cent p.a to 8.00 per cent p.a.
The funds raised through this issue will be utilised primarily for the lending activities of the Company.
The Lead Manager to the Issue is A. K. Capital Services Limited. IDBI Trusteeship Services Limited is the Debenture Trustee for the Issue. Link Intime India Private Limited is the Registrar to the Issue.