Muthoot NCDs oversubscribed; gets offers worth Rs 325 cr

Written by Press Trust of India | New Delhi | Updated: Sep 25 2013, 03:04am hrs
India's leading gold finance company Muthoot Finance today said its non-convertible debenture (NCD) issue has been oversubscribed by 1.084 times.

The issue has received total subscription of Rs 325.20 crore, Muthoot Finance said in a statement.

The company came out with NCD issue earlier this month worth Rs 150 crore with an option to retain over-subscription up to Rs 150 crore, aggregating to Rs 300 crore.

It said the funds raised through this issue will be utilised by for various financing activities including lending and investments, to repay existing loans and towards business operations.