 "Muthoot Finance to raise Rs 250 crore via NCD")
Muthoot Finance Limited, the largest gold financing company in India, today announced the public issue of 25,00,000 secured redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 1000 each.
Through this issue the company plans to raise an amount of up to Rs. 250 crore, with a green shoe option to retain 100% over-subscription and thus raising the total size of the issue to Rs. 500 crore. The issue, opened on September 7 and will close on October 7, 2015.
The funds raised through this issue will be used for various financing activities including lending and investments, to repay existing loans and for business operations including capital expenditure and working capital requirements.
This is 13th NCD offer from Muthoot Finance with investment tenors ranging from 400 days to 60 months and is offering coupon rate ranging from 8.75 to 9.5%.
Corporates and retail individuals are offered an additional incentive of 0.75% across the tenure. Unsecured NCDs have tenure of 84 months with a coupon rate ranging from 9.66 to 10.41%.
Post allotment, NCDs will be listed on BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%