Muthoot NCDs oversubscribed; gets offers worth Rs 325 cr

Press Trust of India Posted online: Tuesday, Sep 24, 2013 at 0000 hrs
New Delhi : 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.