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Monday, September 2, 2013

Muthoot Finance NCD issue opens

Gold loan company Muthoot Finance opened a public issue of non-convertible debentures (NCDs) on Monday.

The company plans to mop up Rs 150 crore, with an option to retain oversubscription for another Rs 150 crore, through the issue.

The NCDs have a face value of Rs 1,000 each.

The minimum application size is 10 NCDs. The issue will close on September 16. The NCDs will be listed on the BSE, a company press note said.

There are ten investment options for the secured NCDs and one for the unsecured. They will have an effective yield of up to 12.55 per cent a year.

The company said the funds raised through the NCD issue will be used for lending and investment, repay loans and other liabilities, and capital expenditure and working capital requirements.

Source: thehindubusinessline


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