MUMBAI, Apr 5: Mortgage lender Muthoot Homefin
Friday said it plans to raise up to Rs 300 crore through non
convertible debentures.
The base size of the issue is Rs 150 crore, with
an option to retain oversubscription up to a similar amount,
the company said in a statement.
The company is offering various bonds maturing in 2,
3.2, 5 and 7.5 years, with monthly, annual and cumulative
payment options. The effective yield ranges from 9.25 to
10 percent per annum.
“This is our first debt issue and funds raised will be
utilised for lending activities,” its executive director,
Eapen Alexander Muthoot said.
The issue will open for subscription on April 8 and is
scheduled to close on May 7. The NCDs are proposed to be
listed on BSE.
The lead manager to the issue is Edelweiss Financial
Services.
The other NCDs to be opened next week include from
L&T Finance which is raising up to Rs 1,000 crore and Magma
Fincorp of up to Rs 500 crore.
Deposit-taking NBFC Shriram City Union Finance is also
in the process of raising up to Rs 750 crore through bonds,
which got opened for subscription from Friday. (PTI)
&&&
Follow our WhatsApp channel
