Gold finance company Muthoot Finance today said it will raise up to Rs 1,000 crore through the issue of debentures.
The company is in the process of issuing non-convertible debentures (NCDs) of Rs 1,000 face value each and has filed a draft prospectus with the stock exchanges for the same, Muthoot Finance said in a filing to the Bombay Stock Exchange.
The company would raise up to Rs 500 crore through this issue and has the option to retain over-subscription of up to Rs 500 crore. This would take the total amount raised through NCDs to Rs 1,000 crore, it added.
The company had raised over Rs 900 crore in April through an initial share sale. The issue proceeds would be utilised to augment the company's capital base for meeting future capital needs, for funding of loans and for general corporate purposes, Muthoot Finance had said.
Shares of Muthoot Finance were being quoted at Rs 191.20, up 2.27%, in afternoon trade on the BSE.
