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.

EDITORIAL OF THE DAY

  • It is for the market, not the government to decide the fares of private air carriers

    In a country where substantial lip service is paid to the glories of a free economy and laissez faire, there is enough evidence to suggest that in rea

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture