India New Issue-Muthoot Finance to raise funds via public issue

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, April 5 (Reuters) - India's Muthoot Finance Ltd plans to raise at least 750 million rupees ($9.1 million) through the public issue of non-convertible debentures, according to a product note. The gold financier's public issue will open for subscription on April 12 and will close on April 26. The issue also has a greenshoe option to retain an additional 2.25 billion rupees. The company is offering bonds maturing in 25 months, 37 months, and 61 months at an annual coupon in the 7.75% to 8.10% range for institutional investors. A.K. Capital Services is the lead manager for the bond issue, rated AA+ by ICRA. ($1 = 82.1870 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Varun H K)

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