Mumbai, April 05 : Mortgage lender Muthoot Homefin Friday said it plans to raise up to Rs 300 crore through non convertible debentures.
The base size of the issue is Rs 150 crore, with an option to retain oversubscription up to a similar amount, the company said in a statement.
The company is offering various bonds maturing in 2, 3.2, 5 and 7.5 years, with monthly, annual and cumulative payment options. The effective yield ranges from 9.25 to 10 percent per annum. “This is our first debt issue and funds raised will be utilised for lending activities,” its executive director, Eapen Alexander Muthoot said.
The issue will open for subscription on April 8 and is scheduled to close on May 7. The NCDs are proposed to be listed on BSE.
The lead manager to the issue is Edelweiss Financial Services.
The other NCDs to be opened next week include from L&T Finance which is raising up to Rs 1,000 crore and Magma Fincorp of up to Rs 500 crore. Deposit-taking NBFC Shriram City Union Finance is also in the process of raising up to Rs 750 crore through bonds, which got opened for subscription.
