Muthoot FinCorp, the flagship company of Muthoot Pappachan Group (Muthoot Blue), has announced ₹200 crore investment by State Bank of India (SBI) in the non-convertible debentures (NCDs) under private placement with a face value of ₹1 lakh for each NCD.
The maturity/tenure options of this issue is five years with half yearly being the frequency of the interest payment. The secured issued NCDs is rated as AA-/stable by CRISIL and listed on the debt market segment of BSE, Muthoot FinCorp said in a statement.
“India’s largest bank has invested in the NCDs issued and the proceeds of this will be utilised for onward lending, business operations and further expansion and growth plan,” said Shaji Varghese, CEO – Muthoot FinCorp.
Some of the offerings of Muthoot FinCorp include – gold loans, Vyapar Mitra business loans, two-wheeler loans, used car loans, home loans, loan against property, domestic and international money transfer, foreign exchange, insurance products and services, wealth management services, and others.
(Edited by : Anshul)
First Published: Dec 26, 2023 2:14 PM IST
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