Muthoot Microfin Approves NCD Issuance on Private Placement Basis
Muthoot Microfin approves the issuance of NCDs on private placement for ₹150 Crore and ₹300 Crore with different tenures and interest rates.
The issuance of NCDs will help the company raise funds, but the impact is moderate as it is a fairly common financial activity.
The announcement details the approval for the issuance of NCDs, which is a positive step for the company's fundraising activities.
* Approved issuance of Non-Convertible Debentures (NCDs) on a private placement basis. * Issued up to 1,50,000 Listed, Rated, Senior, Secured, Transferable, Redeemable NCDs with a face value of ₹10,000 each, totaling ₹150 Crore, divided into two series of ₹75 Crore each. * Issued up to 30,000 Secured, Rated, Listed, Redeemable, Taxable NCDs with a face value of ₹1,00,000 each, totaling ₹300 Crore, divided into two tranches of ₹150 Crore each, to be issued in multiple series. * Series A Debentures: up to 75,000 NCDs with a face value of ₹10,000 each, aggregating up to ₹75 Crore. * Series B Debentures: up to 75,000 NCDs with a face value of ₹10,000 each, aggregating up to ₹75 Crore. * Tranche I Debentures: up to 1,50,000 NCDs with a face value of ₹1,00,000 each, aggregating up to ₹150 Crore. * Tranche II Debentures: up to 1,50,000 NCDs with a face value of ₹1,00,000 each, aggregating up to ₹150 Crore. * Tenure of the instrument for 1,50,000 NCDs: December 03, 2025 (Deemed Date of Allotment) and December 03, 2027 (Maturity). * Coupon/interest offered for 1,50,000 NCDs: 9.70% per annum, Schedule: Monthly * Tenure of the instrument for 30,000 NCDs: December 16, 2025 (Deemed Date of Allotment) and December 16, 2027/2028 (Maturity). * Coupon/interest offered for 30,000 NCDs: 9.85%/9.95% per annum, Schedule: Monthly
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Muthoot Microfin Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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