Muthoottu Mini NCD gets Rs 108 Cr Oversubscription

KOCHI:
Muthoottu Mini Financiers Limited’s issue of non-convertible debentures (NCDs) was oversubscribed to the tune of Rs 108 crore. The 15th issue had a base issue size of Rs 125 crore with an option to retain over-subscription. The NCD with a triple B Plus: Stable rating by leading credit rating agencies Care Ratings and India Ratings, will also be listed on the BSE. The NCD Issue had various options for the subscription with coupon rates ranging from 8.75% – 10.47% p.a.

Commenting on the achievement, Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers Ltd, said “The achievement affirms our ability and experience to make great strides in this challenging phase. This is an inspiration to bring better services to more customers”.