The base issue size is Rs 100 crore with an option to retain over-subscription of up to Rs 690 crore.
Gold loan NBFC Muthoot Finance on Thursday said it is raising Rs 790 crore through public issue of secured redeemable non-convertible debentures (NCDs). The base issue size is Rs 100 crore with an option to retain over-subscription of up to Rs 690 crore. The Kerala-based lender had raised $450 million in October through issuance of ‘senior secured notes’ in overseas markets as part of the $2-billion capital-raise plan.
MD George Alexander Muthoot said, “The issue will help the company to have long-term funds and diversify the borrowing basket as well. The previous NCD issues were well received in the market and were over-subscribed. It provides an opportunity to retail and HNI investors, to whom we have allocated 80% of the total issue size, with stable and attractive long-term returns when there are only limited comparable alternative avenues for investments.”