Muthoot Finance to sell Rs 3000 cr debt
Muthoot Finance said it will raise up to Rs 3,000 crore in debt, to help it to expand its loan book.
Mumbai: Gold financing company Muthoot Finance, on Tuesday said it will raise up to Rs 3,000 crore in debt, to help it to expand its loan book.
The Kochi-based company said it will be the eighteenth series of public debt sale through issuing non-convertible redeemable debentures, which will open on April 9 and close on May 8 and will be listed on the BSE.
The issue is with a base size of Rs 500 crore with an option to retain oversubscription up to shelf limit of Rs 3,000 crore, the company said in a statement.
George Alexander Muthoot, the managing director of Muthoot Finance said, 60 per cent of the issue is allocated to retail and high networth individual investors.
The issue offers 10 investment options for secured NCDs with monthly or annual interest payment frequency or on maturity redemption payments with effective yield of 8-9 per cent, he said.
The issue will be managed by Edelweiss Financial Services and AK Capital Services, while IDBI Trusteeship Services is the debenture trustee and Link Intime is the registrar.