Through public non-convertible debentures (NCDs) Muthoot Finance will be raising around Rs 1,200 crore this year. The company will be issuing listed NCDs every month till the end of the financial year. The company's move follows the Reserve Bank of India restrictions on privately placed NCDs.
The gold loan company had gone for public issue of Rs 300 crore in the first week of September and had subscribed around Rs 330 crore. With yield up to 12.55 per cent, the secured NCDs had investment options starting from 400 days onwards to 24, 36 and 60 months.
The issue sizes will be largely between Rs 300 crore and Rs 500 crore, the company said.