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Muthoot Finance Ltd on Monday filed a Draft Prospectus with BSE for a public issue of Secured Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each, aggregating to Rs 250 crore with an option to retain over-subscription up to Rs 250 crore. The total NCDs would add up to Rs 500 crore in case of over-subscription, a press release issued here has said.
ICICI Securities Ltd, HDFC Bank Ltd, JM Financial Consultants Private Ltd, Karvy Investor Services Ltd, RR Investors Capital Services Ltd and YES Bank Ltd are the Lead Managers to the issue. IDBI Trusteeship Services will act as the Debenture Trustee for the Issue. The Issue is rated by CRISIL and ICRA with ‘AA- Stable' rating.
The issue is expected to be launched in February or March. Earlier in August 2011 and January 2012, company had already raised Rs 693 crore and Rs 459 cores through similar issues.
“The objective of the issue is to diversify the resource profile of the company as well as to seek wider participation from retail investors. We expect the issue to provide an attractive investment option to retail investors, HNIs, corporates and institutions,” Mr George Alexander Muthoot, Managing Director, Muthoot Finance said.
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