Muthoot Finance files draft prospectus with SEBI to raise Rs 300 cr via NCDs

Posted by: Religare
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In a bid to issue secured non-convertible debentures (NCDs) of up to Rs 300 crore, gold financing major, Muthoot Finance has filed a draft prospectus with market regulator Security Exchange Board of India for public issuance.

"Public issue by our company of NCDs aggregates up to Rs 1,500 million with an option to retain over—subscription up to Rs 1,500 million for issuance of additional NCDs aggregating to a total of up to Rs 3,000 million," the company said in a statement.

According to the media report, ICICI Securities will act as the lead managers to the issue, while Link Intime India is registrar to the issue, said the media report.

Moreover, the company will use the fund for financing activities, including lending and investments, besides utilising them to repay existing loans, capital expenditure plans and to meet working capital requirements.

As per the draft filed with SEBI, the NCD issue aims at aggregating up to Rs 150 crore with an option to retain over-subscription of up to Rs 150 crore.

Dion Global Solutions Ltd.

Read more about: muthoot finance, ncd
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