Muthoot Finance zooms on planning to raise Rs 1,700 crore via NCDs
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Muthoot Finance is currently trading at Rs. 1242.00, up by 37.45 points or 3.11% from its previous closing of Rs. 1204.55 on the BSE.
The scrip opened at Rs. 1218.00 and has touched a high and low of Rs. 1244.00 and Rs. 1212.90 respectively. So far 93905 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1405.00 on 28-Jul-2020 and a 52 week low of Rs. 654.45 on 08-Apr-2020.
Last one week high and low of the scrip stood at Rs. 1244.00 and Rs. 1165.70 respectively. The current market cap of the company is Rs. 49828.53 crore.
The promoters holding in the company stood at 73.40%, while Institutions and Non-Institutions held 22.10% and 4.50% respectively.
Muthoot Finance is planning to raise Rs 1,700 crore through Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each. The Issue is with a base issue size of Rs 100 crore with an option to retain oversubscription upto Rs 1600 crore aggregating upto tranche limit of Rs 1700 crore.
The issue opens on April 8, 2021 and closes on April 29, 2021 with an option to close on such earlier date or extended date as may be decided by the Board of Directors or NCD committee. The NCDs are proposed to be listed on BSE. The allotment will be on first come first serve basis. The funds raised through this issue will be utilised primarily for lending activities of the company.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.
