Muthoot Capital Services Limited has informed the Exchange about issue of Securities
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Muthoot Capital Services has approved the issuance of secured, listed, redeemable NCDs worth up to ₹100 crores via private placement. The issue consists of 10,000 NCDs with a face value of ₹1 lakh each, carrying a coupon of 10.35% per annum paid monthly, with principal repaid quarterly over a 21-month tenure. The deemed date of allotment is July 3, 2025, and maturity is April 3, 2027. The NCDs are backed by a first-ranking pari passu charge on the company's book debts and loan receivables, with a minimum security cover of 1.2 times the outstanding amount. The instruments will be listed on BSE.
This is a routine debt-raising move to fund the company's lending operations, with no equity dilution since the debentures are non-convertible. The 10.35% coupon reflects current borrowing costs in the market, and the 1.2x asset cover offers reasonable protection for debenture holders. Existing shareholders are not directly affected, though higher borrowings will increase interest expenses.