Muthoot Homefin to raise Rs 300 crore

Housing finance company MuthootHomefin Friday said it will raise up to Rs 300 crore through issue of debentures. The base size of the issue is Rs 150 crore, with an option to retain over subscription of a similar amount, aggregating up to Rs 300 crore. "MuthootHomefin (India) Ltd, a wholly-owned subsidiary of Muthoot Finance, is proposing a public issue of up to Rs 300 crore by issuing secured redeemable non-convertible debentures (NCDs) of the face value of Rs 1,000 each," the company said in a statement. The issue will open for subscription on April 8, and is scheduled to close on May 7, 2019, with an option of early closure, and/or extension, it added. The NCDs would have a tenure are 2, 3.2, 5 and 7.5 years, with monthly or annual interest payment frequency or on maturity redemption payments with effective ranging from 9.25 per cent to 10 per cent.