Muthoot Finance is planning to raise up to Rs 790 crore through non-convertible debentures (NCDs). The funds raised through this issue will be utilized primarily for lending activities. The base size of the issue is Rs 100 crore, with an option to retain oversubscription of up to Rs 690 crore. The issue will help the company to have long-term funds and diversify borrowing basket as well.
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.
