Muthoot Fin surges 2% on raising Rs 250 cr via NCDs

Muthoot Finance has increased by 1.63% to Rs 165.25 after the company announced that it has filed a draft prospectus with the Bombay Stock Exchange (BSE) for a public issue of secured non-convertible debentures of face value of Rs 1,000 each.

The company plans to issue NCDs aggregating up to Rs 250 crore with an option to retain over-subscription up to Rs 250 crore for issue of additional NCDs, aggregating to a total of up to Rs 500 crore. The issue is expected to be launched in the February-March, a company statement said here.

In the intraday trade, the stock opened at Rs 163.60 and made a high of Rs 166. Around 1,30,000 shares were traded in BSE.