Muthoot Microfin Approves ₹250 Cr NCD Issue

Muthoot Microfin Ltd's Debenture Issue and Allotment Committee has approved the issuance of 250,000 Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) with a face value of ₹10,000 each, aggregating to ₹250 Crores. The NCDs will have a tenure of 24 months, with a maturity date of September 8, 2028. The issuance will be done via private placement, and the NCDs will carry an annual coupon rate of 9.25%, payable monthly. The principal amount will be secured by a first-ranking charge over the company's receivables. This move aims to strengthen the company's capital base and fund its growth initiatives.