NBFC Muthoot Finance on Wednesday introduced its plan to boost Rs 1,700 crore by a public difficulty of secured redeemable non-convertible debentures (NCDs).
The problem, with a base dimension of Rs 100 crore, has an choice to retain over-subscription of as much as Rs 1,600 crore, aggregating as much as a tranche restrict of Rs 1,700 crore. The problem opens on April 8 and closes on 29. The funds raised will likely be utilised primarily for lending actions.
MD George Alexander Muthoot stated “That is the primary NCD public difficulty after our credit standing bought upgraded to AA+ by CRISIL and ICRA. By the way, that is our twenty fifth public difficulty of NCDs too. We’ve got allotted 80% of the problem for retail and excessive internet value particular person traders.”