Muthoot FinCorp Ltd has announced the launch of NCD Tranche III of secured and redeemable non-convertible debentures with a face value of ₹1,000 each, scheduled for issuance on April 24.
The net proceeds from this issue are intended to be utilised for onward lending, financing and repayment/prepayment of interest and principal of existing borrowings, and for general corporate purposes. The company aims to raise up to ₹600 crore within the approved shelf limit of ₹3,000 crore.
The NCD Tranche III issue comprises a base size of ₹200 crore with a green shoe option of₹400 crore, aggregating up to ₹600 crore. The NCDs offer effective annual yields ranging from 8.84 to 9.25 per cent across multiple tenure options of 24, 36, 60, and 72 months.
The NCD Tranche III will be open to the public till May 8. These NCDs have been rated Crisil AA-/Positive by Crisil Ratings Ltd and BWR AA/Stable” by Brickwork Ratings India Private Ltd, indicating a high degree of safety for the timely servicing of financial obligations. It is proposed that these instruments will be listed on the debt market segment of the BSE.