Muthoot Finance Limited NCD opens on 22nd Dec 2011

by khalid on 21/12/2011 · 0 comments

Keral based gold financing company Muthoot Finance Limited is entering into market with a Non-Convertible Debentures (NCD) of Rs 1000 per share on 22nd Dec 2011. The company has plans to raise Rs 600 crore through this NCD issue. The public issue of secured, redeemable NCDs will close on 7th January 2012. Minimum order quantity for Muthoot NCD is 5 NCDs (Rs 5000) and after that in multiples of 1 NCD (Rs 1000).

The company will utilise the funds raised through the issue for various financial activities, which include investments and lending.

The NCDs proposed to be issued under this Issue have been rated ‘CRISIL AA-/Stable’ by CRISIL and ‘[ICRA] AA-/Stable’ by ICRA. The NCD is available for 4 tenors – 24 months, 36 months, 60 months and 66 months. The coupon rate for this NCD is fixed at 13.00% to 13.43% based on the tenors of the NCD. Redemption amount will be repayment of the Face Value plus any interest that may have accrued at the Redemption Date.

the Company has issued a Press Release dated December 19, 2011 titled “Muthoot Finance Limited to raise upto Rs. 600 Crores through a Public Issue of Secured Redeemable Non-Convertible Debentures

ICICI Securities Limited, A.K. Capital Services Limited HDFC Bank Limited and Karvy Investor Services Limited are the Lead Managers for this issue.

Stay tuned to BelltheBull Blog for more news on Muthoot Finance NCD !

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