Muthoot Fin aims ₹1,700 cr via NCDs

Muthoot Finance has announced its 25th series of public issue of secured redeemable, non-convertible debentures of face value of ₹1,000 each . The issue is with a base issue size of ₹100 crore, with an option to retain over-subscription up to ₹1,600 crore, aggregating up to tranche limit of ₹1,700 crore. It opens on April 8 and closes on April 29 with an option to close on such earlier date or extended date as may be decided by the Board of Directors or NCD committee. The secured NCDs have been rated CRISIL AA+/ Stable by CRISIL and [ICRA] AA+ (Stable) by ICRA. The funds raised through this issue will be utilised primarily for lending activities of the company.