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Muthoot FinCorp Limited, the flagship company of Muthoot Pappachan Group (popularly known as Muthoot Blue) today announced the launch of 5th Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) to raise Rs 250 crore, with an option to retain over subscription up to Rs 230 crore, aggregating to Rs 480 crore. The funds raised will primarily be used to augment the working capital and requisite lending.
The company has received board approval to raise NCDs in the aggregate amounts of upto Rs 900 Cr. The first tranche of the issue, which opened on September 20, 2019 and closed by October 18, 2019 raised Rs.417 Cr. from public.
The second tranche of the issue would have the face value of ?1,000 and a minimum ticket size of Rs 10,000. There will be 11 schemes, with tenure options of 400 days, 24 months, 38 months and 60 months, offering customers returns with interest rates ranging from 9.36% to 10%.This 5th public issue of NCDs will open on January 9, 2020 and close by February 4, 2020. The issue has received Credit Rating “CRISIL A/Stable” by CRISIL Limited and “BWR A+/Stable” by Brickwork Rating India Pvt. Ltd.
Commenting on the proposed NCD issue, Thomas John Muthoot, Chairman -Muthoo tPappachan Group and Managing Director – Muthoot FinCorp Limited, said, “Muthoot FinCorp has been doing well on the back of a diversified portfolio which is designed to meet needs of the customers. In-spite of the prevailing market conditions, the company has been experiencing a healthy demand for gold and MSME loans.
On that account, we have decided to come up with an NCD issue to help meet the company’s increasing working capital needs.The first tranche of the NCD issue was well received by our investors and we managed to raise Rs 417 Cr. that will be used primarily to augment the working capital and requisite lending. Muthoot FinCorp along with the sister companies of the Group, have lacs of customers actively engaged with us. We are confident about the success of the second tranche of the NCD Issue and hope that this will help fuel further growth and will add more value to all our stakeholders, including investors.”
It has been brought to our notice that certain individuals are receiving fraudulent emails, phone calls, and messages, etc, about job vacancies with Muthoot FinCorp and they are also being asked to deposit money in certain bank accounts.
Please be informed that such communications and practices are completely mala fide and sent with an intent to defraud the public and bring disrepute to the goodwill of our Company. Our Company does not ever demand any fee/money against recruitment nor for the application/interview process.
The public at large is hereby cautioned not to be misled by any such communications received through emails, message or any other communication mode.
Please contact us for further information about the genuineness or otherwise of such communications at: