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Muthoot Finance Approves Fundraising upto ₹6, 000 Cr through Bonds

Muthoot Finance Approves Fundraising upto ₹ 6,000 Cr through Bonds
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On Friday, Muthoot Finance Ltd. said that the board has approved a proposal to raise funds upto Rs. 6000 crore through NCD (Non-Convertible Debentures). Private placement of redeemable NCDs to be issued in one or two tranches as may be decided by the board from time to time.

The Board of Directors of Muthoot Finance Limited at their meeting held at the registered office of the company has considered and approved fundraising to the tune of Rs. 6,000 crore by way of the private placement of Redeemable Non-Convertible Debentures to be issued in one or more tranches as may be decided by the Board of Directors or a committee thereof from time to time,” Muthoot Finance said in a BSE filing.

Muthoot Finance reported 22% in standalone profit after tax of Rs. 991.4 crore for the ended December 2020. Last year the company reported a profit of Rs. 815.2 crore, on a consolidated basis the company’s profit after tax rose to Rs. 1, 006.7 crore in the quarter of the previous fiscal year. The total income reached Rs. 2, 777 from Rs. 2, 321 crore.

Our active customers presently having a loan account also crossed the landmark of 50 lakh customers,” said Managing Director George Alexander Muthoot.

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Written by Hardik Tokas

Hardik Tokas is a law graduate from GGSIPU, Delhi. He is an analytical thinker, an active team player who is proactive in legal research and writing, and has highly motivated enthusiasm for business, start-ups, and entrepreneurship. He has the vision to deliver excellent support to the visionary entrepreneurs and educate them in all legal compliances of applicable laws considering their business level and long term growth. He is a goal-oriented professional and a valuable member of the organization.

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