Muthoot Finance plans to raise Rs 2,000 cr through bonds
Published On: Monday, October 26, 2020 | By: Team KnowMyStock
Gold loan company Muthoot Finance on Monday said it is looking to raise up to Rs 2,000 crore through a public issue of non-convertible debentures (NCDs) for lending purposes. The proposed debenture issue will have a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 1,900 crores aggregating up to tranche limit of Rs 2,000 crore."The issue will open on October 27, 2020, and will close on November 20, 2020, with an option to close on such earlier date or an extended date as may be decided by the board of directors or NCD committee. The NCDs are proposed to be listed on BSE. The allotment will be on a first come first serve basis. The funds raised through this issue will be utilised primarily for lending activities, the company said. There are six investment options for Secured NCDs with monthly or annual interest payment frequency or on maturity redemption payments with coupon ranging from 7.15 per cent to 8 per cent per annum.
In the quarter ended June 30, 2020, the company’s profit after tax stood at Rs 841 crore. Its net-worth was Rs 12,316 crore and had a capital adequacy ratio of 26.30 per cent as on June 30, 2020.
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
