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Muthoot Microfin Ltd ( (IN:MUTHOOTMF) ) has shared an announcement.
Muthoot Microfin Ltd announced the allotment of 75,000 senior, secured, rated, listed, redeemable, transferable non-convertible debentures (NCDs) with a face value of Rs. 10,000 each, totaling Rs. 75 crore. This issuance, approved by the Board of Directors, is part of a larger series involving 150,000 NCDs and is conducted on a private placement basis. The debentures are set to mature in 24 months with a 9.70% annual interest rate, secured by a charge over the company’s receivables. This strategic move is likely to enhance the company’s financial stability and provide liquidity for its operations, potentially impacting its market position positively.
More about Muthoot Microfin Ltd
Muthoot Microfin Ltd operates in the financial services industry, focusing on providing microfinance solutions. The company primarily offers financial products and services aimed at empowering individuals and small businesses with access to credit and financial resources.
Average Trading Volume: 28,054
Technical Sentiment Signal: Strong Buy
Current Market Cap: 32.05B INR
Learn more about MUTHOOTMF stock on TipRanks’ Stock Analysis page.