Non-banking financial company Muthoot Finance on Thursday said it is looking to raise up to Rs 1,000 crore through issuance of non-convertible debentures. The base issue size of Rs 100 crore with an option to retain over subscription of up to Rs 900 crore. There are ten investment options for secured NCDs with monthly or annual interest payment frequency or on maturity redemption payments with effective yield per annum ranging from 9.25 per cent to 10 per cent, the company said in a release.
The funds raised through this issue will be utilised for the lending activities of the company. The issue opens on September 27 and close on October 25. The NCDs are proposed to be listed on BSE.
