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Muthoot Pappachan Group makes maiden public issue of non-convertible debentures

2-Jul-2014

Muthoot Pappachan Group makes maiden public issue of non-convertible debentures

KOCHI: Muthoot FinCorp Ltd, the flagship company of the Muthoot Pappachan Group and one of the largest non-bank finance companies in the country, is launching its first public issue of secured, redeemable non-convertible debentures (NCD) on July 3.

Its maiden NCD issue will have a face value of Rs 1,000 each aggregating up to Rs 100 crore, with an option to retain oversubscription up to another Rs 100 crore.

The NCD issue, which offers 10 investment options and an effective yield of up to 12 per cent per annum, will close on August 4. The minimum investment amount per application under all options is Rs 10,000. The funds raised through the issue will be utilised for giving out loans.

The NCDs will be made available to investors through 3,831 Muthoot FinCorp branches across the country and the Bombay Stock Exchange, the company said.

Originally Posted on: The economic times logo