Muthoot Fin to raise money through NCDs

The company will issue NCDs of Rs 1,000 face value each, aggregating up to Rs 500 crore, with an option to retain over-subscription up to Rs 500 crore, which would take the total size of the issue to Rs 1,000 crore, Muthoot Finance Chief General Manager K B Bijimon said.

The issue opens on August 23 and closes on September 5, with an option for early closure. Muthoot Finance recently raised Rs 900 crore from its IPO, which Bijimon said was over-subscribed. The company has promised a return of 11.75 per cent to 12.25 per cent on the NCDs, payable annually.