Muthoot Finance’s operating history has evolved over a period of 84 years since M George Muthoot founded a gold loan business in 1939
KOCHI, Sep 26 (The CONNECT) - Muthoot Finance Ltd's 32nd series of Public Issue of Secured Redeemable Non-Convertible Debentures, with a base issue of ₹100 crore was oversubscribed on the first day of the issue with offer worth ₹770.35 crore.
The issue has an option to retain oversubscription up to ₹600 crore, aggregating to a tranche limit of ₹700 crore.
George Alexander Muthoot, MD of Muthoot Finance, said, this achievement reflects the trust of the company’s customers."
The company has always prioritized the safety of its investors by providing them with AA+/Stable-rated NCDs by ICRA, along with an attractive rate of return. The issuance of bonds has always been primarily focused on empowering retail investors and providing them with a solid avenue to diversify their investment portfolio, Muthoot said.
Muthoot Finance Ltd, an Upper Layer NBFC , is the largest gold loan NBFC in India. Its operating history has evolved over a period of 84 years since M George Muthoot founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887. The equity shares of the Company are listed on National Stock Exchange (NSE) of India Limited and Bombay Stock Exchange (BSE) Limited since 2011. Muthoot Finance has a branch network of 4700 plus branches across 29 states and union territories in India, and employs over 27,000 people. The NBFC serves about 2,00,000 plus retail customers every day for Gold Loans and Other Products and has about 1,00,000 plus Retail Investor Base for Non-Convertible Debentures. The loan assets stood at Rs.63,210 Crores as at March 31, 2023 and Profit after Tax stood at Rs.3,474 Crores for FY 2023. The NBFC has a net-worth of Rs.21,062 Crores and Capital Adequacy Ratio stood at 31.77% as on March 31, 2023.