Muthoot Finance has received an approval for fund raising to the tune of Rs. 6,000 crore by way of private placement of Redeemable Non-Convertible Debentures to be issued in one or more tranches as may be decided by the Board of Directors or a committee thereof from time to time.
The Board of Directors of the company at their meeting has considered and 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.
