Muthoot NCD issue oversubscribed on day 1

Muthoot Finance 32^nd NCD Series got oversubscribed with ₹770.35 crore on the first day of opening of the issue.

The issue has a base size of ₹100 crore with an option to retain oversubscription up to ₹600 crore, aggregating to a tranche limit of ₹700 crore.

• Also Read: Muthoot Finance post 22% rise in net profit at ₹975 crore in Q1 FY24 

George Alexander Muthoot, MD, Muthoot Finance, said:“We are glad and grateful for the support of investors and this achievement reflects our dedication to providing excellent service to our retail investors, who have been an integral part of our journey. The company has always prioritised the safety of its investors by providing them with AA+/Stable rated NCDs by ICRA, along with attractive rate of return.”

The issuance of the bonds has always been primarily focused on empowering retail investors and providing them with a solid avenue to diversify their investment portfolio, he said.

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