Muthoot FinCorp to raise up to Rs 400 crore via Non Convertible Debentures

Mumbai : Muthoot FinCorp on Monday announced raising up to Rs 400 crore through issuance of non-convertible debentures (NCDs).

The issue is a part of the Rs 1,100 crore debt-raising plan approved by the board, a company statement said. The base size of the issue is Rs 100 crore with a green shoe option of Rs 300 crore, it said, adding the issue will close on September 14.

The issue has tenure options of 24, 36, 60, and 96 months with monthly, annual, and cumulative payment options, offering an effective annual yield of 8.65-9.43 per cent. Thiruvananthapuram-based Muthoot FinCorp is the flagship company of the 136-year-old Muthoot Pappachan Group.

It has over 3,600 branches across the country. Founded in 1887, the group is into financial services, hospitality, automotive retail, realty, IT Services, healthcare, precious metals, global services and alternate energy, serving over 1 million customers