Muthoot Finance is set to raise Rs 400 crore by way of public issue of Non-Convertible Debentures (NCDs). The company will get the permission to go ahead with its public issue of NCDs next week. This will be for working capital purpose. The company is looking for tenures in the range of 400 days to 5 years. The coupon rate will be in the range of 9.5% to less than 11%.
The company also said that it may do another retail NCD issue in the last quarter of the fiscal.
Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.
