Muthoot Fincorp raises Rs 200 crore from NCD issue

Tags: News
Mumbai, Jul 18 (PTI) Non-banking finance company Muthoot Fincorp raised Rs 200 crore today through the sale of four redeemable non-convertible debentures (NCD) with different maturities, offering an interest rate between 10.75 per cent and 12 per cent per annum.

The issue which opened for subscription on July 3 was fully subscribed two weeks in advance of the original closing date of August 4, the company said in a release issued here today.

"We are delighted with the response to our first ever public issue of NCD. The funds raised will be utilised for building up of loan portfolio," Muthoot Fincorp Chairman and Managing Director Thomas John Muthoot said.

The original size of the issue was Rs 100 crore with an option to retain oversubscription of Rs 100 crore.

The company offered four bonds maturing in 400 days, two years, three years and five years with an interest rate ranging between 10.75 per cent to 12 per cent per annum, depending on the monthly, annual and cumulative options, chosen by investors.

The issue offered ten investment options and effective yields of up to 12 per cent per annum.

The face value of each NCD was Rs 1,000 and the minimum investment amount per application for all options of NCDs was Rs 10,000 crore.

The lead manager to the issue was SMC Capital.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must follow China on its path to the future

    There are many theories, real and imagined, doing the rounds in the national and international media about Barack Obama’s overtures to ‘rebalance

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Will the adventurous UGC succeed?

The impact of the Modi government on the education sector ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Dharmendra Khandal

Don’t interfere with nature

Just before we celebrated the news of tiger numbers swelling, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture