Muthoot Fincorp to issue NCDs worth Rs 300 crore

Muthoot Fincorp today announced opening of its second public issue of non-convertible debentures for a total value of Rs 300 crore.
"Muthoot Fincorp Limited...Announced the opening of its second public issue of secured, redeemable non-convertible debentures of face value of INR 1000 each, aggregating up to Rs 150 crore, with the option to retain oversubscription up to Rs 150 crore, thus aggregating to a total issue size of up to Rs 300 crore," it said in a release.
The NCDs carry interest rate in range of 10.25-12.25 per cent per annum depending with 11 investment options.
The minimum investment amount per application for all options of NCDs is Rs 10,000.

"We are launching our second NCD with an aim to offer a very attractive investment proposition for our retail investor base. The NCD, with its attractive returns of up to 12.25 per cent, offers value to investors looking for safety and attractive returns as well," said Thomas John Muthoot, Chairman and Managing Director in the release.
Kochi based Muthoot Fincorp Ltd provides finance in the form of gold loans.