Yahoo Finance Muthoot Finance’s 32nd NCD Issue Oversubscribed on First Day
On Monday, Muthoot Finance Ltd's 32nd series of Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) received an overwhelming response from investors, with the issue being oversubscribed on the first day. The NCD issue, with a base of Rs. 100 crore and an option to retain oversubscription up to Rs. 600 crore, aggregating to a tranche limit of Rs. 700 crore, saw offers worth Rs. 770.35 crore.
George Alexander Muthoot, Managing Director of Muthoot Finance, expressed gratitude for the support from investors and emphasized the company's commitment to providing excellent service to its retail investors. The company prides itself on the safety it offers to its investors by providing AA+/Stable-rated NCDs by ICRA, offering an attractive rate of return.
In other news, the Board of Maharatna public sector undertaking, Power Grid Corporation Of India Ltd approved a proposal on Monday to raise approximately Rs. 2,250 crore in FY 23-24 in the second tranche to fund its capital expenditure. This decision comes according to a regulatory filing issued on September 25, 2023.
The company plans to finance its capex requirement, provide Inter Corporate Loan(s) to wholly owned subsidiaries/JVs and for general corporate purposes by securitizing the cash flows of four operational SPVs viz. "POWERGRID Bhuj Transmission Limited ("PBTL"), POWERGRID Khetri Transmission System Limited ("PKTSL"), POWERGRID Medinipur Jeerat Transmission System Limited ("PMJTL")&POWERGRID Varanasi Transmission System Limited ("PVTSL")" up to March 2034.
The last trading price of Power Grid Corporation stock was Rs 198.90 per share with an intraday fall of 0.10% on BSE. Over the past year, Power Grid shares have witnessed a jump of 31%, surging 19% in the last six months, gaining 50% in the last two years, and soaring 120% in the last three years.
Power Grid Corporation, a 'Maharatna' Public Sector Enterprise of the Government of India, is one of the largest power transmission utilities in the world. The company offers various services including power transmission, sub-transmission system, distribution management, load dispatch&communications, both in India and abroad.
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Muthoot Finance’s 32nd NCD Issue Oversubscribed on First Day
