The issue of face value of Rs 1,000 started on September 1. Available till September 14. The Company also has the right to terminate this issue early under Regulation 33A of the SEBI NCS Regulations with the approval of the Board of Directors or a committee constituted by the Company.
NCDs under the first tranche issue are available in tenors of 24 months, 36 months, 60 months and 96 months. These will have monthly and annual maturity payment modes in different plans like I, II, III, IV, V, VI, VII, VIII, IX and X. Customers can choose from these as per their convenience. Annual returns offered to NCD holders range from 8.65 percent to 9.43 percent.
The company also plans to list the AA-/stable rated secured NCDs of CRISIL issued under the first tranche on the debt market segment of BSE. Muthoot Fincorp will use the proceeds from the debentures for further borrowings, repayment of interest/principal to the company’s current lenders and for general corporate purposes.
Shaji Varghese, CEO, Muthoot Fincorp Limited, said that their strength lies in the trust and loyalty reposed in them by customers nationwide for over 136 years. Delighted to announce the 16th NCDs from Muthoot Fincorp. NCDs are also a great opportunity for existing customers from different walks of life to meet their various financial needs.
With attractive yield rate, flexible tenor and CRISIL AA-/Stable rating, this NCD issue is expected to attract good demand from the market. Shaji Varghese pointed out that customers can also avail this service through the Muthoot Fincorp One mobile app.
