Muthoot Finance has received approval to raise funds up to an amount of Rs 5,000 crores (including the unissued portion from the previous approval of Rs 2,000 crores) by way of Private Placement(s) of Redeemable Non-Convertible Debentures (NCDs) to be issued in one or more tranches. The Board of Directors of the company at their meeting held on September 4, 2018, approved the same.
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.
