Muthoot Finance NCD issue opens on March 25

Moneycontrol Bureau

Muthoot Finance has come out with its public issue of secured reedemable non-convertible debentures and unsecured reedemable non-convertible debentures of face value of Rs 1,000 each.

The gold financing company aims to raise upto Rs 150 crore with an option to retain over-subscription upto Rs 150 crore for issuance of additional NCDs aggregating to a total of upto Rs 300 crore.

The issue is going to open for subscription on March 25 and is scheduled to close on April 27, 2015.

The net proceeds raised through this issue will be utilised for the purpose of lending and general corporate purposes.

Muthoot Finance is the largest gold loan NBFC in India in terms of loan portfolio. Which provides provides personal loans and business loans secured by gold jewellery.

ICICI Securities Limited is the book running lead manager to the issue. Link Intime India Private Limited is the registrar to the issue.