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Monday, August 12, 2013

Muthoot Finance files draft paper for Rs 300 cr NCDs

Muthoot Finance has filed the draft prospectus with market regulator SEBI for public issuance of secured non—convertible debentures (NCDs) of up to Rs 300 crore.

The NCD issue aims at aggregating up to Rs 150 crore with an option to retain over—subscription of up to Rs 150 crore, as per draft prospectus filed with SEBI showed.

“Public issue by our company of NCDs aggregates up to Rs 1,500 million with an option to retain over—subscription up to Rs 1,500 million for issuance of additional NCDs aggregating to a total of up to Rs 3,000 million,” it added.

Funds raised through this issue would be used for financing activities, including lending and investments, besides utilising them to repay existing loans, capital expenditure plans and to meet working capital requirements.

ICICI Securities is the lead managers to the issue, while Link Intime India is registrar to the issue.

Muthoot Finance, is one of the largest gold financing company in India, with a market share of over 20 per cent as of March 31, 2012.

Source: thehindubusinessline


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