Muthoot Finance to raise Rs 300 cr via secured NCDs, issue size at Rs 75 cr

Proposed NCDs have AA+ rating from ICRA denoting 'high degree of safety'

Muthoot Finance Ltd has said it will raise Rs 300 crore by issuing secured redeemable non-convertible debentures (NCDs) of face value of Rs 1,000 each.

This issue will be open from October 6 to October 28 with an option to close on an earlier date or extended as may be decided by the board of directors or the NCD committee. The issue has a base size of Rs 75 crore with an option to retain subscription up to Rs 225 crore.

The proposed NCDs have been rated as AA+ (Stable) by ICRA denoting “high degree of safety regarding timely servicing