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.