Muthoot Finance's 32nd series of public issue of secured redeemable non-convertible debentures (NCDs), with a base issue of Rs 100 crore and an option to retain oversubscription up to Rs 600 crore, aggregating to a tranche limit of Rs 700 crore, was oversubscribed on the first day of the issue with offer worth Rs 770.35 crore.
Talking about the issue, it is available till October 6, 2023, with an option to close on earlier date or extended date, as may be decided by the Board of Directors or the NCD committee.
There are 7 investment options for secured NCDs with ‘monthly’ or ‘annual’ interest payment frequency or ‘on maturity redemption’ payments with interest rate ranging from 8.75 percent p.a to 9.00 percent p.a. for individual investors and corporate investors.
The funds raised through this issue will be utilised primarily for lending activities of the company. The lead manager to the issue is AK Capital Services Limited. IDBI Trusteeship Services Limited is the Debenture Trustee for the Issue. Link Intime India Private Limited is the Registrar to the issue.
