NBFC Muthoot Finance announced on Wednesday its intention to raise Rs 1,700 crore through a public issue of guaranteed non-convertible redeemable debentures (NCDs).
The issue, with a base size of Rs 100 crore, has an option to retain oversubscription up to Rs 1,600 crore, totaling up to a tranche limit of Rs 1,700 crore. The show starts on April 8 and ends on April 29. The funds raised will be mainly used for lending activities.
MD George Alexander Muthoot said: “This is the first public issue on NTMs after our credit rating was upgraded to AA + by CRISIL and ICRA. By the way, this is also our 25th public issue on NTMs. We allocated 80% of the issue to individuals and high net worth individuals. “