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Muthoot FinCorp to raise up to Rs300 crore


Muthoot FinCorp to raise up to Rs300 crore

Mumbai: Gold loan financier Muthoot FinCorp Ltd on Monday said it will raise up to 300 crores by selling non-convertible debentures to individual investors.

The minimum amount of investment is 10,000 and the firm will offer schemes in various maturities ranging from 400 days to 72 months, the company said in a press release.

The interest rate will be 10.25-12.25% per annum. “The funds raised through this issue will be utilized by the company for building up of loan portfolio,” Muthoot FinCorp said.

The Kerala-based non-banking finance company also offers money transfer, foreign exchange, insurance, and wealth management services, besides gold loans.

Originally Posted on: Livemint Logo