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Muthoot Finance inches up on getting nod to raise $450 million via bonds

Muthoot Finance is currently trading at Rs. 708.10, up by 0.70 points or 0.10% from its previous closing of Rs. 707.40 on the BSE.

The scrip opened at Rs. 710.85 and has touched a high and low of Rs. 714.80 and Rs. 706.55 respectively. So far 5467 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 718.30 on 31-Oct-2019 and a 52 week low of Rs. 389.15 on 06-Dec-2018.

Last one week high and low of the scrip stood at Rs. 718.30 and Rs. 662.20 respectively. The current market cap of the company is Rs. 28401.25 crore.

The promoters holding in the company stood at 73.48%, while Institutions and Non-Institutions held 22.55% and 3.96% respectively.

Muthoot Finance has received approval from its board to raise $450 million through bonds in overseas markets under the $2 billion capital-raise plan. The bonds will be listed on the London Stock Exchange’s International Securities Market.

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 etc.

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