Gold loan company Muthoot Finance’s 32nd series of public issue of secured redeemable Non-Convertible Debentures (NCDs), with a base issue of Rs 100 crore and an option to retain oversubscription up to Rs 600 crore, aggregating to a tranche limit of Rs 700 crore was oversubscribed on the first day of the issue with an offer worth Rs 770.35 crore.
Speaking about the successful NCD issue, George Alexander Muthoot, MD of Muthoot Finance, said, “We are pleased and grateful for the support of our investors. This achievement reflects the trust of our customers.”
With a widespread presence across the nation, with over 4,700 branches, we have earned significant trust from people for generations, Mr Muthoot added.
The company has always prioritized the safety of its investors by providing them with AA+/Stable-rated NCDs by ICRA, along with an attractive rate of return. The issuance of bonds has always been primarily focused on empowering retail investors and providing them with a solid avenue to diversify their investment portfolio, according to a media release issued by the company on Monday.
