Kochi, Sep 11, 2015 : Muthoot Finance Ltd, the largest gold financing company in India, has proposed public issue of 25,00,000 Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs. 1000/- each.
Through this NCD issue the company plans to raise an amount up to Rs. 250 crore, with an Green Shoe option to retain 100% over-subscription and thus raising the total size of the issue to Rs. 500 crore. The issue opened on September 07, 2015 and will close on October 07, 2015, with an option of early closure date depending upon the level of subscription.
The NCD under this issue have been rated ‘CRISIL AA-/Stable’ by ICRA indicating high degree of safety regarding timely servicing of financial obligations and carrying very low credit risk.
The funds raised through this issue will be used for our various financing activities including lending and investments, to repay our existing loans and our business operations including for our capital expenditure and working capital requirements.
This is 13th NCD offer from Muthoot Finance with investment tenors ranging from 400 days to 60 months and is offering coupon rate ranging from 8.75% to 9.50% depending on tenure and the category.
Category 2 and 3 i.e. Corporates and Retail Individuals are offered additional incentive of 0.75% across the tenure. Unsecured NCDs have tenure of 84 months with a coupon rate ranging from 9.66% to 10.41%.
Post allotment, NCDs will be listed on BSE.
Minimum application is to be made for 10 NCDs (i.e. Rs. 10000) and in multiple of 1 NCD (i.e. Rs. 1000) thereon, thereafter
ICICI Securities Ltd and Edelweiss Financial Services Ltd are the Lead Managers to the Issue. IDBI Trusteeship Services Limited is the Debenture Trustee to the Issue, while Link Intime India Pvt Ltd is the registrar to the Issue.
Corporate Comm India (CCI Newswire)
