Muthoot FinCorp to raise up to Rs 360 crore through NCDs

Muthoot FinCorp on Wednesday said it will raise up to Rs 360 crore through the public issue of debentures. The issue opened on April 10 and will close on April 25.

"Muthoot FinCorp Limited has announced XVI Tranche IV series of secured, redeemable, non-convertible debentures (NCDs) to raise an amount aggregating to Rs 360 crore which is within the shelf limit of Rs 1,100 crore. The tranche IV issuance amounts to Rs 100 crore with a green shoe option of Rs 260 crore aggregating up to Rs 360 crore ("Tranche IV Issue")," Muthoot FinCorp said in a statement.

The issue offers NCDs with maturity/tenure options of 26 months, 38 months, 60 months, 72 months, and 94 months with monthly, annual, and cumulative payment options across different schemes.

"With the AA-/ Stable rating by CRISIL coupled with attractive interest rates and multiple tenure options we are focused on providing our investors with a suitable avenue to diversify their investment portfolio," said Shaji Varghese, CEO, Muthoot FinCorp Ltd.

Muthoot FinCorp is the flagship company of the 137-year-old Muthoot Pappachan Group.