Muthoot Fin mops up ₹3,000 cr via NCDs

Our Bureau | | Updated on: Apr 10, 2018

 

The non-convertible debenture issue of Muthoot Finance, which closed on the second day today, has received overwhelming response from HNI and retail investors. The ₹3,000-crore NCD issue received bids for ₹3,672 crore.

George Alexander Muthoot, MD, said, “We are ecstatic to close our NCD issue in two days. We are thankful to our customers and investors for the unwavering support and continued trust in us. The NCD facilitates the company to have long-term funds and diversify the borrowings as well.” He further added, “We had allocated 60 per cent of the issue to retail and HNI investors, who are always scouting for an opportunity to have stable and attractive long-term returns when there are only limited alternative avenues for investments.”

Published on April 10, 2018
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