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Muthoot Finance Ltd’s (MFL) public issue of secured, redeemable, non-convertible debentures (NCDs) of Rs 1,000 each will open for subscription on March 2.
The company proposes to raise up to Rs 250 crore with an option to retain over subscription up to Rs 250 crore, aggregating a total of up to Rs 500 crore through the NCD issue that come with four investment options and effective yield of up to 13.43 per cent per year. The issue will close on March 17 with an option for early closure, the company has said.
Each NCD will have a face value of Rs 1,000 and the minimum application is for 5 NCDs (Rs 5,000) and in multiples of one NCD thereafter and these will be listed on the BSE. The maturity period would vary from 24 months from the deemed date of allotment to 66 months and the interest payable annually ranges from 13 per cent p.a. to 13.43 per cent.
The company had raised Rs 693 crore and Rs 459 crore through public issue of NCDs in August 2011 and December 2011.
MFL proposes, subject to market conditions and other considerations, to make a public issue of securities and has filed a draft prospectus with SEBI.
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