Muthoot Fincorp’s non-convertible debentures (NCDs) were purchased by the State Bank of India for Rs 200 crore.
The flagship company of 136-year-old Muthoot Pappachan Group announced on Tuesday that the loan offer has a five-year maturity with interest payments made half-yearly.
However, it did not announce the issue’s price.
According to Shaji Varghese, CEO of the company, the proceeds from the NCD offering will be used for future lending, business operations, and additional expansion and growth plans.
Muthoot Fincorp has approximately 3,600 branches across the country and offers among other things, gold loans, small business loans, auto loans, home loans, and loans against property.
Also read: Ukraine Claims Russian Ships Suspected Of Transporting Drones Destroyed
Singapore’s CapitaLand Commits to Significant Growth in India
Passport Seva Portal To Undergo Maintenance
Pradyumna Kumar- The man who cycled from India to Europe for love
NASA’s Sunita Williams Faces 3 Deadly Scenarios With Boeing Starliner
Manasi Joshi: The Paralympic Athlete Who Redefines Resilience
Wipro’s Share Splits Turn ₹10,000 Investment From 1980 Into ₹1,000 Crore
6 Indian Athletes Who Won Medals At Paris Olympics 2024
6 Indian Military Bases Around The World
PM Modi In Kerala: Visits Landslide-Hit Wayanad; Expresses Concern Over Impact On Local Children
8 Things To Know About Quit India Movement
Paris Olympics 2024: After the Games are over, what happens to Olympic villages?
4 Countries That Are Income Tax- Free
Union Budget 2024: Key Highlights
Anti Quota Agitation In Bangladesh
10 Oldest World Leaders In Power
Priyanka Chopra Birthday: 5 Unknown Facts About Priyanka Chopra
10 Favourites To Win Medals For India At Paris Olympics 2024
5 Celebs Who Want Joe Biden To Step Aside
5 Most Followed Political Leaders On X, Here’s PM Modi’s Latest Ranking
Donald Trump Assassination : A Look Back At The Four Assassinations Of U.S. Presidents In American History