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 problem, with a base size of Rs 100 crore, has an option to keep the oversubscription up to Rs 1,600 crore, aggregating up to a slice 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. “
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