MUTHOOT Finance, a gold loan company, is launching its second public issue of non-convertible debentures (NCDs) this financial year, targeting to raise Rs 600 crore, including a green shoe option of Rs 300 crore.
The money raised is proposed to be used to repay loans and fund the company's business plans. The bonds have been rated AA/Stable by Crisil and AA/Stable by ICRA, which indicates high safety with relatively lower standing within the category.
The NCD issue will have four investment options with varying maturity tenures and coupon rate.
For a tenure of two years, the annual interest rate being offered is 13 per cent; for a tenure of three years, the rate is 13.25 per cent; for five years, the bonds will yield an interest rate of 13.25 per cent per annum, while in case, the investor holds the bonds for 5.5 years, he gets a return of 13.43 per cent per annum.
The minimum investment amount is Rs 5,000, said a press release. The NCDs, which opens on December 22 and closes on January 7, 2012, would be listed on the Bombay Stock Exchange, added the release.
The funds raised through this issue will be utilised for various financing activities, including lending and investments, to repay existing liabilities or loans and towards business operations, including capital expenditure and working capital requirements.
How to apply to Muthoot Finance NCD?
You can download the forms below
Submit the filled up form to Collection canter near you
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