On Monday, Muthoot FinCorp announced plans to issue non-convertible debentures (NCDs) to raise up to Rs 400 crore.
According to a statement from the company, the issue is a part of the Rs 1,100 Cr debt-raising plan approved by the board.
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.
On Monday shares of this company closed 1.65% up at Rs. 1,282.10 on NSE.
The Muthoot Pappachan Group, which has been around for 136 years, is led by the Thiruvananthapuram-based Muthoot FinCorp. Over 3,600 branches exist for it nationwide.
In 1887-founded, company offers over 1 million customers financial services, hospitality, automotive retail, real estate, IT services, healthcare, precious metals, international services, and alternative energy.
