Muthoot FinCorp aims to raise ₹300 crore through the Tranche III issuance of Non-Convertible Debentures (NCDs), offering yields ranging from 9.00% to 10.10% with tenures of 24 to 92 months.
Kochi: Muthoot FinCorp has announced plans to raise ₹300 crore through the Tranche III issuance of Non-Convertible Debentures (NCDs). The NCDs, priced at a face value of ₹1,000 each, will be available for subscription starting December 23, 2024. The funds will be utilized for refinancing loans, providing financial assistance, repaying existing debts (principal and interest), and general corporate expenses.
This ₹300 crore issue falls under the overall NCD limit of ₹2,000 crore approved by the company. The current base issue size is ₹100 crore, with an option to retain an additional ₹200 crore in oversubscription.
The NCDs will have tenures of 24, 36, 60, 72, and 92 months, offering yield options that can be availed monthly, annually, or at maturity. Investors can expect practical yields ranging from 9.00% to 10.10% across different series.
The issue will be open for public subscription until January 6, 2024, subject to early closure based on approvals from the company’s Director Board or Stock Allotment Committee under SEBI’s Regulation 33A.
Muthoot FinCorp CEO Shaji Varghese emphasized that the offering aligns with the company’s strategic financial goals while providing attractive investment options for the public.
