Muthoot FinCorp looks to raise Rs 400 crore

Muthoot FinCorp, the flagship company of Kerala-based Muthoot Pappachan Group, is looking to raise Rs 400 crore in retail bonds.

The issue has opened for subscription today.

Effective yield on the bonds ranges from 9.38% to 10.10%. Investors can choose from tenure of 18, 24, 36, 60 and 72 months.


The base issue size is Rs 100 crore while the company will have an option to retain oversubscription up to Rs 300 crore.

The issue is scheduled to close on February 17.

CRISIL rated the bonds "AA-/stable", indicating a high degree of safety for timely servicing of financial obligations.