Custom Search

Tuesday, August 16, 2011

Muthoot Finance to raise up to Rs 1,000 crore through NCD issue

MUMBAI: Muthoot Finance, the largest gold financing company in terms of loan portfolio, on Tuesday said it is raising up to Rs 1,000-crore through a public issue of secured redeemable non-convertible debentures.

The company plans maiden public issue of secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 1,000 each aggregating up to Rs 500 crore with an option to retain over subscription up to Rs 500 crore, aggregating to a total of up to Rs 1,000 crore, a company statement said.

The NCD issue with three investment options and effective yield of up to 12.25 per cent per annum opens on August 23 and closes on September 5, 2011.

The face value of each NCD is Rs 1,000 and the minimum application is for five NCDs (Rs 5,000) and in multiples of one NCD thereafter.

The NCDs are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.

The funds raised through this issue will be utilised by the company for various financing activities including lending and investments, to repay existing liabilities or loans and towards business operations including for capital expenditure and working capital requirements.

The company provides personal and business loans secured by gold jewellery, or gold loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, to meet short-term liquidity requirements.


Source: EconomicTimes

3 comments:

Jobs in the Gulf said...

The company plans maiden public issue of secured, redeemable, non-convertible debentures (NCDs) of face value of Rs 1,000 each aggregating up to Rs 500 crore with an option to retain over subscription up to Rs 500 crore, aggregating to a total of up to Rs 1,000 crore, a company statement said.

Forex Trading said...

The NCD Issue with three investment options and effective yield of upto 12.25% (per annum) closes on September 5, 2011, with an option of early closure as may be decided by the duly authorised committee of board of directors of the Company subject to necessary approvals. The face value of each NCD is Rs. 1,000 and the minimum application is for five NCDs (Rs. 5,000) and in multiples of one NCD thereafter.

Anonymous said...

Manappuram has a better yield of 12.56%

Post a Comment

Popular Posts

 
Desi Google | A2Z Famous Quotes | What's Cooking America | Joke Site