| The company will allot 11,000 rated, listed, unsubordinated, secured, transferable, and redeemable NCDs having a face value of Rs 1 lakh each, aggregating to Rs 110 crore for a tenure of 24 months.
The NCDs have a coupon rate of 10.40. % p.a. payable monthly and are proposed to be listed on Bombay Stock Exchange (BSE).
The debentures shall be secured by way of a first ranking, pari-passu, and continuing charge on receivables (hypothecated receivables) and exclusive charge on the issue proceeds in the designated proceeds account for the first 90 days. The hypothecated receivables shall at all times be equal to 1.2 times the outstanding amount of the debentures.
Muthoot Capital Services (MCSL) is the listed entity of Muthoot Pappachan Group. The non-banking financial company (NBFC) offers financial solutions (loans on wheels) for individuals, including two-wheeler loans, used car loans, and used commercial vehicles. MCSL is active in retail financing and caters to the requirements of borrowers both in rural and semi-urban areas.
The company’s consolidated net profit tumbled 52.5% to Rs 15.97 crore on 44% decline in total income to Rs 109.79 crore in Q2 FY25 over Q2 FY24.
The scrip rose 0.34% to Rs 374.15 on the BSE.
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