Muthoot Finance Ltd to raise Rs. 300 Crores in their 28th Public Issue of Secured Redeemable Non-Convertible Debentures

· This issue of Secured Redeemable Non-Convertible Debentures will be open to subscription starting October 6th, 2022 till 28th October, 2022

· Indicating high degree of safety, the proposed NCD issue is rated as AA+ (Stable) by ICRA

India, 04 October, 2022: Muthoot Finance Ltd has announced their 28th public issue of Secured Redeemable Non-Convertible Debentures of face value of ₹1,000 each. The issue is with a base issue size of ₹75 crore with an option to retain over subscription up to ₹ 225 crore aggregating up to tranche limit of ₹300 crore. This issue will be open from October 06th and will close on 28th October, 2022 with an option to close on such earlier date or extended date as may be decided by the Board of Directors or NCD committee.

The proposed NCDs which are to be issued have been rated as AA+ (Stable) by ICRA denoting “high degree of safety regarding timely servicing of financial obligations”. The basic criteria to allot the proposed NCDs to the investors is on first come first serve basis.

Muthoot Finance offers its Individual Investors 7 investment options for Secured NCDs with ‘Monthly’ or ‘Annual’ interest payment frequency or ‘on maturity redemption’ payments with coupons ranging from 7.50% p.a to 8.00% p.a.

Commenting on this development, Mr.George Alexander Muthoot, Managing Director, Muthoot Finance Ltd, said “We are delighted to announce our 28th public issue of Secured Redeemable Non-Convertible Debentures. As we have an AA+/Stable rating by ICRA and we are offering attractive interest rates, we are sure this edition of NCD will see an ample of subscriptions. We have allocated 90% of the issue for retail and high networth individual investors who will be getting 0.50% p.a more than the interest rate applicable for institutions and corporates. As such we expect a good response for the issue. Investors are bound to see this as a great investment option, when compared to similar available avenues.”

The funds raised through this issue will be utilised primarily for lending activities of the Company.

The Lead Manager to the Issue is A. K. Capital Services Limited. IDBI Trusteeship Services Limited is the Debenture Trustee for the Issue. Link Intime India Private Limited is the Registrar to the Issue.