Muthoot Finance to raise Rs 400 cr

Company may do another retail NCD issue in last quarter of the fiscal

Muthoot Finance is set to raise Rs 400 crore by way of public issue of Non-Convertible Debentures (NCDs).

"We will get the permission to go ahead with our public issue of NCDs next week. This will be for working capital purpose. We are looking for tenures in the range of 400 days to 5 years. The coupon rate will be in the range of 9.5% to less than 11%," said George Alexander Muthoot, MD of the company.

Muthoot also said that the company may do another retail NCD issue in the last quarter of the fiscal.