Muthoot Finance Ltd. has announced its 32nd series of public issues of secured redeemable non-convertible debentures with a face value of ₹1,000 each (Secured NCDs). The issue has a base size of ₹100 crore with an option to retain oversubscription up to ₹600 crore, aggregating to a tranche limit of ₹700 crore (“Issue”).

The issue opens on September 21 and closes on October 6, with the option to close on an earlier date or an extended date, as may be decided by the Board of Directors or the NCD committee.

The secured NCDs proposed to be issued under this issue have been rated [ICRA] AA+ (stable) by ICRA.

The NCDs are proposed to be listed on BSE. The allotment will be on a first-come, first-served basis.

Investment options

There are seven investment options for secured NCDs with “monthly” or “annual” interest payment frequency or “on maturity redemption” payments with an interest rate ranging from 8.75 per cent to 9.00 per cent per annum for individual investors and corporate investors.

George Alexander Muthoot, Managing Director, Muthoot Finance Ltd, said, “Our 32nd NCD issue is open for subscription, and the interest rate offered on NCDs has been increased by 0.50 per cent. Compared to other available investment avenues, our NCDs, rated ‘AA+/Stable’, offer an attractive investment option. We are hoping for increased interest from the market and our investors on this issue.”

The funds raised through this issue will be utilised primarily for the lending activities of the company.

The lead manager for the issue is AK Capital Services Ltd. IDBI Trusteeship Services Limited is the debenture trustee for the issue. Link Intime India Private Limited is the registrar for the issue.