Muthoot FinCorp raises Rs. 200 crore via private placement of NCDs from State Bank of India

 Muthoot FinCorp raises Rs. 200 crore via private placement of NCDs from State Bank of India

 

Trivandrum, December 26, 2023: Muthoot FinCorp Limited (“Company”), the flagship company of 136-year-old Muthoot Pappachan Group (Muthoot Blue) has announced Rs. 200 crore investment by State Bank of India, country’s largest bank, in the NCDs under private placement with a face value of Rs. 1lakh for each NCD.

The maturity/tenure options of this issue is five years with half yearly being the frequency of the interest payment. The secured issued NCDs is rated as AA-/ Stable by CRISIL and listed on the debt market segment of BSE.

 

“Trust and integrity are core to Muthoot FinCorp. We are happy that India’s largest bank has invested in the NCDs issued and the proceeds of this will be utilised for onward lending, business operations and further expansion and growth plan. We will strive further to bring in innovative products and services to meet the lifecycle requirements of our customers. Today, I’d like to thank our millions of customers for bestowing their trust and continuing to support us throughout these years helping us meet the needs of the common man and enabling financial inclusion,” said Mr. Shaji Varghese, CEO – Muthoot FinCorp Limited.

Muthoot FinCorp with its over 3600 branches across India works towards the goal of financial inclusion of every household in the country. Some of our offerings include – Gold Loans, Vyapar Mitra Business Loans, Two-wheeler loans, Used car loans, Home Loans, Loan Against Property, Domestic & International Money Transfer, Foreign exchange, Insurance products & services, Wealth Management services, and many more.