Muthoot Finance today said it will raise Rs 6,000 crore through public issue of non-convertible debentures (NCDs).
"Board of directors of Muthoot Finance in its meeting held on May 16, 2018, has decided to raise funds up to an amount of Rs 6,000 crore by way of public issue(s) of redeemable non-convertible debentures (NCDs)," the company said in a regulatory filing.
The money is to be issued in one or more tranches.
Muthoot Finance today reported a jump of over 40 per cent in its standalone net profit at Rs 451 crore in the quarter ended March of 2017-18. The company had registered a net profit of Rs 321.78 crore in the same quarter a year ago.
On yearly basis, net income profit was up by 46 per cent at Rs 1,720.27 crore in 2017-18 as against Rs 1,179.83 crore in the preceding fiscal. Total income stood at Rs 6,185.27 crore in the fiscal ended March 2018 as against Rs 5,728.63 crore in the year-ago fiscal.
Stock of Muthoot Finance closed 1.18 per cent down at Rs 420.45 apiece on the BSE today.
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