Muthoot Finance to Raise Rs. 3000 Crore through Public Issue

Gold financing firm Muthoot Finance said that it plans to raise Rs 3,000 cr through the public issue of non-convertible redeemable debentures (NCDs).

"Company has filed a shelf prospectus for issue of secured redeemable non-Convertible debentures (Secured NCDs) of face value of Rs 1,000 each aggregating upto Rs 3,000 crore (Shelf Limit)," Muthoot Finance said in a statement.

"The tranche issue is with a base issue size of Rs 500 crore with an option to retain oversubscription up to shelf limit of Rs 3,000 crore (tranche I issue)."

According to the company, the issue opens on April 9, 2018 and closes on May 8, 2018 with an "option to close earlier and or extend up to a period as may be determined by a duly authorised committee of the board".