Muthoot Finance NCDs oversubscribed; gets offers worth Rs.325 cr

 India's leading gold finance company Muthoot Finance said its non-convertible debenture issue has been oversubscribed by 1.084 times.

Sep 24, 2013: India's leading gold finance company Muthoot Finance today said its non-convertible debenture (NCD) issue has been oversubscribed by 1.084 times.

The issue has received total subscription of Rs.325.20 crore, Muthoot Finance said in a statement.

The company came out with NCD issue earlier this month worth Rs.150 crore with an option to retain over-subscription up to Rs.150 crore, aggregating to Rs.300 crore.

It said the funds raised through this issue will be utilised by for various financing activities including lending and investments, to repay existing loans and towards business operations.

Mumbai, September 17, 2013: Muthoot Finance Limited, the largest gold financing company in India in terms of loan portfolio according to the IMaCS Industry Report, 2012 Update, made a public issue of secured, redeemable, non-convertible debentures ("Secured NCDs") and unsecured, redeemable, non-convertible debentures ("Unsecured NCDs") (Secured NCDs and Unsecured NCDs are collectively referred to as "NCDs") of face value of Rs.1,000 each aggregating upto Rs.150 crores with an option to retain oversubscription uptoRs.150 crores, aggregating to Rs.300 crores ("Issue").  The Issuehas been oversubscribed with the total subscription at Rs.325.20crores. The Issue had several investment options and yields on redemption (with maximum yield of 12.55% (per annum) for Option IX Secured NCDs) as specified in the prospectus dated August 28, 2013 filed with the Registrar of Companies, Kerala and Lakshadweep ("Prospectus").  The Issue opened on September 02, 2013, andclosed on September 16, 2013.

Courtesy: The Financial Express and 4-traders