Muthoot Finance plans NCD issue

Gold loan company Muthoot Finance Ltd plans to tap the market with a public issue of non-convertible debentures (NCDs), its Managing Director, George Alexander Muthoot, said.

“We are going to soon file the papers (with the regulator) for this issue. The actual amount to be raised has not been decided as yet,” Muthoot told Business Line. The issue may take place in the next 10 days, he indicated.

For Muthoot Finance, this will be the fifth NCD issue. The company had already come up with four listed NCD issues in recent years.

Muthoot, however, pointed out that the company was comfortable on the capital front and there was no urgent requirement for funds.

The company is eyeing a 10 per cent increase in assets under management this fiscal, he added.

srivats.kr@thehindu.co.in

Source: thehindubusinessline