Subscription window open from October 11, 2024 to October 24, 2024
Bengaluru, October 11, 2024: Muthoot FinCorp Limited (MFL or “Company”) the flagship company of 137-year-old Muthoot Pappachan Group (Muthoot Blue) has announced XVII Tranche II series of secured, redeemable, non-convertible debentures of face value of Rs 1000 each (“NCDs”) to raise an amount aggregating to Rs 250 crore which is within the shelf limit of Rs 2000 crore. This is the Tranche II issuance from the Company. The XVII Tranche II issuance amounts to Rs 75 crore (“Base Issue Size”) with a green shoe option of Rs 175 crore aggregating up to Rs 250 crore (“Tranche II Issue Limit”) (“Tranche II Issue”). The XVII Tranche II Issue has been open to public from October 11, 2024 and closes on October 24, 2024 subject to an early closure as may be approved by our Board of Directors or the Stock Allotment Committee thereof of the Company, and subject to relevant approvals, in accordance with the Regulation 33A of the Securities and Exchange Board of India (Issue And Listing Of Non-Convertible Securities) Regulations, 2021, as amended (SEBI NCS Regulations).
The NCDs under the XVII Tranche II Issue are being offered with maturity/tenure options of 24, 36, 60, 72 and 92 months, with monthly, annual and cumulative payment options across different Options – I, II, III, IV, V, VI, VII, VIII, IX, X, XI, XII and XIII from which the customers can conveniently choose. Effective yield (per annum) for the NCD holders in all categories of investors ranges from 9.00% to 10.10%. The NCDs issued under XVII Tranche II have been rated at CRISIL AA-/Stable (pronounced as CRISIL double A minus rating with a Stable outlook) by CRISIL Ratings Limited and is proposed to be listed on the debt market segment of BSE. The funds raised through the Tranche II Issue will be used for onward lending, financing, and for repayment/prepayment of interest and principal of existing borrowings of our Company and for the general corporate purposes.
“We are happy to announce the next series of NCDs offering secure investment opportunities to our valued investors. Investors can conveniently invest through any of Muthoot FinCorp’s 3,700+ branches across the country or effortlessly via our mobile app, Muthoot FinCorp ONE, for investments up to ₹5 lakhs from the comfort of their homes,” said Shaji Varghese, CEO – Muthoot FinCorp Limited.
