Muthoot Fincorp launches Rs 300-cr NCD issue

Mumbai, Jan 12 (PTI) Leading gold loan financier Muthoot Fincorp on Friday said it will raise Rs 300 crore through the issue of secured, redeemable, non-convertible debentures (NCDs).

The issue opened for public subscription on Friday and will be open till January 25, the company said.

The company said the proposed debt issuance is within the shelf limit of the board-approved plan of raising up to Rs 1,100 crore this fiscal.

The base size of the third tranche is Rs 75 crore with a green shoe option of Rs 225 crore.

The company offers tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual, and cumulative payment options across options with coupon rates ranging from 9.26-9.75 per cent.