- The Tranche I Issue with a face value of ₹1,000 has been open to the public till Thursday, 14th September 2023
- Effective yield (per annum) for the NCD holders in all categories of investors ranges from 8.65% to 9.43%
NE BUSINESS BUREAU
THIRUVANANTHAPURAM, SEPT 4
Muthoot FinCorp Limited, the flagship company of Muthoot Pappachan Group (Muthoot Blue), has announced its 16th series of secured, redeemable, non-convertible debentures (NCDs) to raise an amount aggregating up to ₹400 crores, which is within the shelf limit of ₹1,100 crore.
The first tranche issuance of ₹100 crore comes with a green shoe option of ₹300 crore aggregating up to ₹400 crore. The Tranche I Issue with a face value of ₹1,000 has been open to the public till Thursday, 14th September 2023.
The NCDs under the Tranche I Issue are being offered with maturity/tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual, and cumulative payment options across different schemes – I, II, III, IV, V, VI, VII, VIII, IX and X from which the customers can conveniently choose.
Effective yield (per annum) for the NCD holders in all categories of investors ranges from 8.65% to 9.43%. The secured NCDs issued under Tranche I have been rated at AA-/ Stable by (CRISIL) and are proposed to be listed on the debt market segment of BSE. The funds will be used for onward lending, financing, and repayment/ prepayment of interest and principal of existing borrowings of our Company and the general corporate purposes.
“Our strength is the belief and trust of our customers from across the country for more than 136 years and I’m happy to announce the 16th series of NCDs from Muthoot FinCorp. Customers come from various walks of life, and this is a great platform for both existing customers and prospective investors to fulfill their diverse financial needs. We expect good demand for this issue which has an attractive rate of return, a flexible tenure, and a rating of AA-/ Stable by CRISIL,” said Shaji Varghese, CEO, Muthoot FinCorp Limited.
