Money & Banking

Muthoot Finance raises Rs 286 cr from NCD issue

K. R. Srivats New Delhi | Updated on March 12, 2018 Published on October 30, 2012

Gold loan company Muthoot Finance has raised Rs 286 crore from its just concluded non-convertible debenture (NCD) issue, a top company official has said.

The company had tapped the market in September with a Rs 250-crore NCD issue with an option to retain oversubscription of up to Rs 250 crore.

Of the Rs 286-crore mobilised, as much as Rs 146 crore came from institutional investors and Rs 140 crore from retail investors, Oommen Mammen, Chief Financial Officer, told Business Line.

This is the first NCD issue for the company this fiscal and the fourth since August last year.

A large proportion of the response to the latest NCD issue came in for the two-year instrument which had a coupon of 11.5 per cent per annum. The recent NCD issue was to originally close on October 5, but later extended to October 22.

Mammen did not rule out further NCD issues this fiscal. The company is yet to decide on the timelines, he noted.

Muthoot Finance is eyeing only 5-10 percent growth in assets under management this fiscal, Mammen said, adding that the current fiscal is being treated as a consolidation phase.

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Published on October 30, 2012
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