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Muthoot FinCorp Limited announces new NCDs, aims to raise ₹225 crores

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THIRUVANANTHAPURAM, India, Oct. 13, 2023 /PRNewswire/ — Muthoot FinCorp Limited ("Company"), the flagship company of the 136-year-old Muthoot Pappachan Group (Muthoot Blue) has announced the XVI Tranche II series of secured, redeemable, non-convertible debentures ("NCDs") to raise an amount aggregating up to ₹225 crores, which is within the shelf limit of ₹1,100 crore. The second tranche issuance amounts to ₹75 crore with a green shoe option of ₹150 crore aggregating up to ₹225 crore ("Tranche II Issue"). The Tranche II Issue with a face value of ₹1000 for each NCD will be open to the public from Friday, 13th October 2023 to Friday, 27th October 2023 subject to an early closure as may be approved by the Board of Directors or a duly constituted committee thereof of the Company, and subject to relevant approvals, in accordance with Regulation 33A of the SEBI NCS Regulations.


The NCDs under the Tranche II Issue are being offered with maturity/tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual and cumulative payment options across series I, II, III, IV, V, VI, VII, VIII, IX and X, from which the customers can conveniently choose. Effective yield (per annum) for NCD holders in all categories of investors ranges from 8.99% to 9.43%. The secured NCDs issued under Tranche II have been rated at AA-/ Stable by CRISIL and are proposed to be listed on the debt market segment of BSE. 

"We are happy to announce series XVI Tranche II of NCDs for both our existing and prospective customers across the country. This comes with multiple tenures, attractive interest rates, and convenient payment options where the customers can either visit any of our 3600+ branches or avail our doorstep service. Customers can also utilise the facility through our mobile app — Muthoot FinCorp ONE. The funds will be used for onward lending, financing, and repayment/ prepayment of interest and principal of the existing borrowings of our Company and for general corporate purposes," said Mr. Shaji Varghese, CEO – Muthoot FinCorp Limited.

About Muthoot FinCorp

Muthoot FinCorp Limited, the flagship company of the 136-year-old business conglomerate, Muthoot Pappachan Group, is India’s leading Non-Banking Financial Corporation (NBFC) with an aim to transform the lives of the common man by ensuring their financial wellbeing through an array of varied products and services. With over 3600 branches across the country, we aspire to serve the underbanked, be their most trusted financial partner, and ensure the financial inclusion of every household in India. Muthoot FinCorp’s long-standing experience, expertise and stronghold in semi urban and rural areas has enabled the company to provide quick and customized finance options to the masses.

About Muthoot Pappachan Group

Founded in 1887, Muthoot Pappachan Group (MPG) is a significant entity in the Indian business landscape with a nationwide presence and tailor-made products and services for its customers. The group, which planted its roots in retail trading, later diversified into various sectors including financial services, hospitality, automotive, realty, IT services, healthcare, precious metals, global services and alternate energy. Currently MPG has over 30,000 employees, serving customers through its 5200+ branches across the country. Muthoot Pappachan Foundation, the CSR arm of the group, facilitates the CSR activities for the entire group of companies focusing on Health, Education, Environment and Livelihood (HEEL).



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