Muthoottu Mini Financiers Unveils NCD Public Issue
Muthoottu Mini Financiers announced a public issue of secured NCDs, launching with a base size of Rs 100 crore and an option for oversubscription up to Rs 50 crore. The NCDs offer interest rates between 8.84% and 10.5%, with tenors ranging from 450 days to 66 months.
- Country:
- India
Muthoottu Mini Financiers has opened a public issue of secured, non-convertible debentures (NCDs) with a face value of Rs 1,000 each. The initial base size of the issue is Rs 100 crore, with the ability to retain oversubscription for up to Rs 150 crore. Investors can avail annualised interest rates ranging from 8.84% to 10.5%, depending on their category and tenor choice, which spans periods from 450 days to 66 months.
The NCD issue, opening Wednesday and set to close on November 13 unless an early closure is decided, will be listed on the BSE. The raised funds will be utilized for onward lending, financing, and repaying the company's existing borrowings, besides other corporate purposes.
Muthoottu Mini Financiers is renowned in Kerala for its flexible gold loan schemes and microfinance solutions aimed at women entrepreneurs in underserved areas. In FY24, the company reported assets under management of Rs 3,522.77 crore, with a profit after tax of Rs 77.83 crore.
(With inputs from agencies.)
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