Muthoot FinCorp to raise up to Rs 700 crore via non-convertible debentures

Representational Image. File pic.

Muthoot FinCorp on Monday said it plans to raise up to Rs 700 crore by issuing debentures to fund business growth.

Net proceeds from this issue will be utilised for onward lending, financing and repayment/prepayment of interest and principal of existing borrowings, and for general corporate purposes, the company said in a statement.

The non-convertible debentures (NCD) Tranche V will open on September 8 and close on September 22, 2026, subject to early closure upon necessary approvals, it said.

The NCDs offer effective annual yields ranging from 8.89 per cent to 9.25 cent across multiple tenure options of 24, 36, 60, and 72 months, it said.

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