Comments
Muthoot Finance Ltd has filed draft prospectus with the BSE for a public issue of Secured Non-Convertible Debentures. The NCD is having a face value of Rs 1,000 each, aggregating up to Rs 250 crore with an option to retain over-subscription up to Rs 250 crore.
ICICI Securities Ltd, A.K. Capital Services Ltd, Edelweiss Financial Services Ltd, Karvy Investor Services Ltd, RR Investors Capital Services Private Ltd and SBI Capital Markets Ltd are the lead managers to the issue.
IDBI Trusteeship Services will act as the Debenture Trustee for the issue. The issue is rated by Crisil and ICRA with AA-/Stable rating.
It is expected to be launched in September. This is the fourth tranche of public issue of NCDs which Muthoot Finance Ltd is coming up with, a press release issued here said.
The objective of the issue is to diversify the resource profile of the company as well as to seek wider participation from retail investors. The issue could be attractive for retail and HNI investors to lock in at attractive fixed rate of interest for long-term especially when the general outlook is that interest rates will fall, George Alexander Muthoot, Managing Director, Muthoot Finance Ltd, said in the release.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.