NCDs for existing and prospective customers across the country, says Verghese
Muthoot FinCorp Limited, the flagship company of the 136-year-old Muthoot Pappachan Group (Muthoot Blue) has announced the XVI Tranche II series of secured, redeemable, non-convertible debentures (NCDs) to raise an amount aggregating up to Rs.225 crores, which is within the shelf limit of Rs.1,100 crore.
The second tranche issuance amounts to Rs.75 crore with a green shoe option of Rs.150 crore aggregating up to Rs.225 crore (Tranche II Issue).
The Tranche II Issue with a face value of Rs.1000 for each NCD opened to the public from Friday, 13 Oct 2023 to Friday, October 2023 subject to an early closure as may be approved by the Board of Directors or a duly constituted committee thereof of the Company, and subject to relevant approvals, in accordance with Regulation 33A of the SEBI NCS Regulations.
The NCDs under the Tranche II Issue are being offered with maturity/tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual and cumulative payment options across series I, II, III, IV, V, VI, VII, VIII, IX and X, from which the customers can conveniently choose.
Effective yield (per annum) for NCD holders in all categories of investors ranges from 8.99% to 9.43%. The secured NCDs issued under Tranche II have been rated at AA-/ Stable by CRISIL and are proposed to be listed on the debt market segment of BSE.
“We are happy to announce series XVI Tranche II of NCDs for both our existing and prospective customers across the country. This comes with multiple tenures, attractive interest rates, and convenient payment options where the customers can either visit any of our 3,600+ branches or avail of our doorstep service,” Shaji Varghese, CEO – Muthoot FinCorp Limited.
“Customers can also utilise the facility through our mobile app — Muthoot FinCorp ONE. The funds will be used for onward lending, financing, and repayment/ prepayment of interest and principal of the existing borrowings of our Company and for general corporate purposes,” he said on 13 Oct.
Muthoot FinCorp is India’s leading Non-Banking Financial Institution (NBFC) with an aim to transform the lives of the common man by ensuring their financial wellbeing through an array of varied products and services. Fiinews.com
