muthoot finance latest news today 2023. Muthoot Finance Ltd has announced the 30th Public Offering of Non-Redeemable Convertible Securities (NCDs Guaranteed) with a face value of Rs 1,000.
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What is Muthoot finance?
Muthoot Finance was incorporated on 14th March 1997 as a Private Limited Company under the Companies Act under the name ‘The Muthoot Finance Private Limited’. Subsequently, the name of the company was changed to “Muhoot Finance Private Limited” based on new articles of incorporation dated May 16, 2007. The company was changed to a public limited company named “Muthoot Finance Limited” on November 18, 2008 and acquired new articles of incorporation as a result of its change of status From RoC on December 2, 2008.
About Muthoot finance
The company is the largest gold finance company in India in terms of loan portfolio. Primarily for individuals who own gold jewelry but have not been able to access formal credit within a reasonable period of time, or for whom credit may not be available at all due to unforeseen circumstances or other reasons. We offer personal and business loans backed by gold jewelry or gold loans. Liquidity requirements for short orders are required.
As of 31st March 2010, Gold Company’s loan portfolio includes approximately 2.8 million loan accounts serviced by 1,605 branches spread across 20 states and 2 union territories in India. According to IMaCS Industry Report 2009, as of March 31, 2010, its branch network was the largest among Indian Gold Loan NBFCs. Since then, it has expanded its branch network to 1921 branches as of August 31, 2010,
muthoot finance latest news today 2023
This issuance has a base issue size of INR 100 Million with an option to hold excess subscriptions totaling INR 400 Million up to a maximum of INR 500 Million (the “Issue”).
This version began on February 8, 2023 and will end on March 3, 2023. There are options to terminate on an earlier or extended date as determined by the Board or the NCD Committee.
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The Assured Noncommunicable Disease Rating [ICRA] is AA+ (stable) from ICRA. The ICRA-assured non-communicable disease rating denotes a “high degree of security with regard to the timely servicing of financial obligations”. It is proposed that non-communicable diseases be included in BSE and that allocation be on a first-come, first-served basis.
There are seven non-communicable disease investment options guaranteed with ‘monthly’, ‘annual’ interest payments or ‘due’ payments ranging from 8.25% per annum to 8.60% per annum for retail investors.
Georges Alexandre Muthoot, Managing Director, Muthoot Finance Ltd. This decision was made in the interest of the investors. We have allocated 90% of the issue to private and wealthy investors who earn 0.50% per annum more than interest. Rates are applicable to institutions and companies and we expect a positive response from the market to the current release.
The funds raised through this release will be used primarily for the company’s financing activities.
The lead manager of this release is AK Capital Services Ltd. IDBI Trusteeship Services Ltd is the bond trustee for this issue. Link Intime India Private Ltd. She is the record holder.