Muthoot Capital Services Limited has informed the Exchange about issue of Unsecured, Rated, Subordinated Listed, Redeemable, Non-Convertible Debentures
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Muthoot Capital Services has approved the issue of unsecured, rated, subordinated, listed, redeemable non-convertible debentures (NCDs) on a private placement basis. The issue size is up to ₹25 crores, comprising 25,000 NCDs with a face value of ₹10,000 each. The tenure is about 65 months (roughly 5.5 years), with deemed allotment on September 30, 2025 and maturity on March 28, 2031. The NCDs carry a coupon of 10.75% per annum, paid monthly, with the principal repayable in a single bullet payment at maturity. The debentures will be listed on BSE.
This is a small ₹25 crore debt raise at a 10.75% coupon, in line with current NBFC borrowing rates. Being subordinated, these NCDs rank below the company's existing senior debt, which existing debenture holders should note. For equity shareholders, the modest size means limited dilution to earnings, but the interest cost will add to overall borrowing expenses.