Muthoot Finance Ltd wins ASSOCHAM award for “Corporate Bond – Public Issuance of the Year” for second consecutive time

Bengaluru, August 12th 2024: Muthoot Finance, India’s largest gold loan NBFC, has been recognised as the winner of prestigious “Corporate Bond – Public Issuance of the Year” award at the 7th National Summit & Awards Corporate Bond Market 2024 organized by ASSOCHAM in Mumbai on Aug 9, 2024.

Muthoot Finance Limited has won this award for the second consecutive year. The award was presented by Sri Doraiswamy, Managing Director, LIC at the ASSOCHAM’s 7th National Summit & Awards.

India’s corporate bond market had witnessed a phenomenal year, recording an all-time high of Rs 9,97,804 crore (approximately $1.2 trillion) in the financial year 2023-24. On the backdrop of the similar trend, Muthoot Finance alone raised INR 1,359 crores through three public issues of NCDs in FY 2023-24 with more than 25,000 retail customers actively investing in its NCDs.

Muthoot Finance has been long dedicated to providing its investors with an alternative source of income. Winning the “Corporate Bond – Public Issuance of the Year” award is a testament to Muthoot Finance’s exceptional role in retail mobilization of Non-Convertible Debentures (NCDs). During the last 13 years, Muthoot Finance has successfully announced 33 Public Issuances of NCDs, raising more than Rs. 22,000 crores primarily focusing on retail investors. The company has always been a flagbearer of safeguarding the interest of its investors, offering AA+/Stable rated NCDs by ICRA, along with high return rates. The bond issues have primarily aimed at empowering retail investors by providing a secure investment avenue to diversify their portfolio.

Speaking on the achievement, Mr. George Alexander Muthoot, Managing Director, Muthoot Finance, said, “Receiving the esteemed ‘Corporate Bond – Public Issuance of the Year’ award by ASSOCHAM for the second consecutive time is a moment of pride for us. It reflects the immense trust that our more than 2 lakh daily customers and retail investors have in the legacy of Muthoot Finance. As the capital bond market in India continues to evolve, Muthoot Finance is playing a pivotal role in democratizing this space for its valued investor community. We are dedicated to ensuring that more individuals have access to secure and rewarding investment opportunities, reinforcing our commitment to empowering investors nationwide. We would also like to extend our deepest gratitude to all our stakeholders—customers, credit rating agencies, debenture trustees, registrars, bankers, brokers, and employees—for their steadfast support in making our issuances successful.”