Leading gold loan
player Muthoot Fincorp will launch its first public issue of secured,
redeemable, non-convertible debentures on Thursday. (July 3, 2015). This marks
its entry into the debt capital market. The NCDs would have a face value of Rs.
1,000 each aggregating up to Rs.100 crore with the option to retain
oversubscription up to Rs. 100 crore.
The issue has been
rated ‘CRISIL A’ by CRISIL. SMC Capitals are Lead Managers to the issue.
Investors may lock in at an interest rate of between 10.75% and 12% depending
on the monthly, annual and cumulative options.
The issue offers 10
investment options and effective yield of up to 12% and closes August 4, 2014
The minimum investment amount for all options is Rs.10,000.
The funds raised
through this issue will be utilised by the company for building up of loan
portfolio.
The net worth as on
March 31, was Rs. 1,249.85 crore and the capital adequacy ratio, about 21%.
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