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Muthoot Capital inks Rs 236 cr securitisation deal

IANS  |  Mumbai 

Capital Services Ltd (MCSL), the company (NBFC), here on Monday announced conclusion of a Rs 236 crore two-wheeler securitisation deal with Mutual Fund (HDFC-MF).

"This deal is one of the largest securitisations deals in the two-wheeler and the biggest securitisation transaction so far for MCSL," a company statement said.

"HDFC-MF subscribed to the entire issuance. The underlying loan pool received from Crisil an AA rating, a significant achievement in this asset class," it said.

Capital, the micro-financing arm of the Pappachan group, is primarily into business.

Securitisation refers to transactions wherein a lender sells a portfolio of future receivables, and has recently become a preferred mechanism for NBFCs to raise funds.

Muthoot Capital has a portfolio of around Rs 2,600 crore with 7 lakh customers, spread across 18 states, the statement added.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 18 2019. 21:38 IST