Muthoot Finance is planning to raise Rs 2,000 crore through issue of non-convertible debentures (NCDs). The company has filed a shelf prospectus for the issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each aggregating up to Rs 1,950 crore and unsecured redeemable non-convertible debentures of face value of Rs 1,000 each aggregating up to Rs 50 crore, totalling up to Rs 2,000 crore.
The tranche issue is with a base issue size of Rs 200 crore with an option to retain over subscription up to a shelf limit of Rs 2,000 crore. The issue, which opens on April 11 and closes on May 10, has been rated by two credit rating agencies – Crisil and ICRA.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The Company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking, home loans, personal loans, collection services, microfinance, etc.