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Muthoot Finance to raise up to 10B rupees in debentures

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Muthoot Finance to raise up to 10B rupees in debentures

Muthoot Finance Ltd. is planning to raise up to 10 billion Indian rupees by issuing secured redeemable nonconvertible debentures.

The company is planning to issue debentures with a base issue size of 1 billion rupees with an option to retain oversubscription of up to 9 billion rupees, according to a May 3 prospectus.

Edelweiss Financial Services Ltd. and A.K. Capital Services Ltd. are the lead managers to the issue.

As of May 3, US$1 was equivalent to 69.10 Indian rupees.