Muthoot Finance Raises nearly Rs. 6,000 Cr through the Issuance of Bonds
India’s largest gold loan non-banking finance corporation, Muthoot Finance, plans to raise around Rs. 6,000 crores. On Friday, it has received a nod for a proposal to raise capital by issuing the non-convertible debentures.
According to the source, the firm has offered foreign exchange services, money transfers, wealth management services, travel, and tourism services. As of 2020, the total revenue stood at Rs. 9,707 crores. Besides, the total assets stood at Rs. 54,881 crores. Mortgage loans, insurance, and mutual funds are the main products of this finance firm.
As per the source, the funds may rise by way of a private placement of redeemable NCDs to be issued in one or more tranches as may be decided by the board or committee there from time to time.
Muthoot Finance Limited share price traded at Rs. 1,300 with a 0.52% gain. In the last trading season, the stock reached a day high price of Rs. 1,320.80.