Muthoot Microfin to raise Rs 450 crore in high-yield bonds over two months

Muthoot Microfin plans to raise Rs 450 crore in bonds over the next two months, the company said Thursday.

The company will be targeting high net worth individuals for placing the bonds on a private placement basis, chief executive Sadaf Sayeed said.

The bonds are priced between 9.70% and 9.95% per annum.


The first tranche of the issue of Rs 150 crore will be allotted on December 3 at 9.7%, ahead of the Reserve Bank of India's monetary policy announcement, which is scheduled on December 5.

Another Rs 150 crore would be raised on December 16 and the balance Rs 150 crore on January 16 at 9.85% and 9.95%, the company said in a stock exchange notice