Muthoot Finance to raise Rs 300 crore through secured redeemable NCDs

The issue offers an attractive rate of return of 7.75% to 8.25% to retail and HNI investors

Muthoot Finance Ltd has announced its 29th series of public issue of secured redeemable non-convertible debentures (NCD) of face value of Rs 1,000 each.
 

The issue offers an attractive rate of return of 7.75% to 8.25% to retail and high networth individual investors. The interest rate has been increased by 0.25%-0.35% per annum as compared to the last issue. Indicating a high degree of safety, the proposed NCD issue is rated as AA+ (stable) by ICRA.
 

The issue is with a base issue size of Rs 75 crore with an option to retain oversubscription up to Rs 225 crore aggregating