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Kochi-based Muthoot Capital Services Ltd, a listed NBFC, said that its rights issue will open on July 11 (Monday) to raise Rs 52 crore.
The company at present has 65,00,000 shares of Rs 10 each. The issue is for offering shares on rights basis at 1:1 ratio to the existing share holders. The shares are issued at a premium of Rs 70 a share, making the issue price of Rs 80 a share. The issue will close on July 25.
A press statement issued here said that MCSL, which offers auto loans, small and medium enterprise loans, gold loans, lease financing, has a strong presence in the banking and finance sector in rural and semi-urban areas in the South. Besides it offers capital market services such as financial advisory services, wealth management, insurance products of leading insurance and mutual fund companies.
It has already finalised plans for giving loan against Gold ETF, equipment finance and financing of tractors. Other products for diversification are also being finalised.
In the financial year ended March 31, the gross revenue was Rs 37.73 crore and the net profit was Rs 9.67crore. The company, part of the Muthoot Pappachan Group, plans to achieve gross revenue of Rs 68.02 crore for the current year and a net profit of Rs 15.46 crore.
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