Muthoot Fincorp Limited, the flagship company of the Muthoot Pappachan Group announced its second public issue of non-convertible debentures (NCD) of face value of Rs 1,000 each, aggregating up to Rs 150 crore, with the option to retain oversubscription up to Rs 150 crore. The company offers an attractive interest rate of between 10.25-12.25% per annum.
The minimum investment amount is Rs 10,000. The funds raised through this Issue will beutilised by the company for building up of loan portfolio. Thomas John Muthoot, CMD of the group, said that the company is amongst the largest gold loan companies in India and has an average of 50,000 walk in customers per day.
NCDs will be made available through the 3,831 Muthoot Fincorp branches across the country and at BSE,he added.
