Muthoot Finance`s 500 cr NCD issue opens for subscription

Gold financing company  Muthoot Finance has come out with its public issue of secured and unsecured redeemable non convertible debentures of face value of Rs 1,000 each for an amount upto Rs 250 crore with an option to retain over-subscription upto Rs 250 crore aggregating to Rs 500 crore.

The issue, which has opened for subscription, will close on January 27, 2014. Minimum bids can be made for 10 NCDs and in multiples of 1 NCD thereafter.

The issue has been rated "AA-/Negative" by CRISIL and ICRA. The NCDs offered through this prospectus are proposed to be listed on BSE.

Also Read: National Housing Bank tax free bond issue opens on Dec 30

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 for capital expenditure and working capital requirements and general corporate purposes.

ICICI Securities Limited is the lead manager to the issue and Link Intime India Private Limited is the registrar to the issue.

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