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Muthoot Finance to raise Rs 300 cr via secured NCDs, issue size at Rs 75 cr

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Ltd has said it will raise Rs 300 crore by issuing secured redeemable (NCDs) of face value of Rs 1,000 each.

This issue will be open from October 6 to October 28 with an option to close on an earlier date or extended as may be decided by the board of directors or the committee. The issue has a base size of Rs 75 crore with an option to retain subscription up to Rs 225 crore.

The proposed NCDs have been rated as AA+ (Stable) by denoting “high degree of safety regarding timely servicing of financial obligations”. The basic criteria to allot the proposed NCDs to the investors is on a first-come-first-serve basis.

is offering individual investors seven options for secured NCDs with monthly or annual interest payment frequency or ‘on maturity redemption’ payments with coupons ranging from 7.5 per cent to 8 per cent per annum.

“We are delighted to announce our 28th public issue of Secured Redeemable . As we have an AA+/Stable rating by and we are offering attractive interest rates, we are sure this edition of will see an ample of subscriptions. We have allocated 90 per cent of the issue for retail and high networth individual investors who will be getting 0.50 per cent p.a more than the interest rate applicable for institutions and corporates,” said George Alexander Muthoot, managing director, .

Funds raised through the issue will be used for the company’s lending activities. A K Capital Services Limited is lead manager for the issue. IDBI Trusteeship Services is the debenture trustee. Link Intime India Private is the registrar.


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