Muthoot Finance plans to raise Rs 6,000 crore via bonds

On Friday, Muthoot Finance said its board has approved a proposal to raise up to Rs 6,000 crore by issuing non convertible debentures (NCDs).

The funds would be raised by way of private placement of redeemable NCDs to be issued in one or more tranches as may be decided by the board or a committee there of from time to time, it said in a BSE filing.

Muthoot Finance stock was trading nearly flat at Rs 1,294.55 on BSE.

Muthoot Finance Ltd. is an Indian financial corporation and the largest gold loan NBFC in the country. In addition to financing gold transactions, the company offers foreign exchange services, money transfers, wealth management services, travel and tourism services, and sells gold coins.
The Muthoot Group has a presence in USA, UK, UAE, Sri Lanka, and Central America.