Muthoot Finance board Okays Rs 6,500 Cr fundraising via NCDs

Muthoot Finance board Okays Rs 6,500 Cr fundraising via NCDs

Muthoot Finance Announces Fundraising Plan and Appointment of Chief Compliance Officer

Muthoot Finance Limited held a Board Meeting at their registered office on March 09, 2023, to discuss the company’s future plans and compliance requirements. The meeting was held in accordance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable regulations.

During the meeting, the Board of Directors considered and approved a fundraising plan by issuing Redeemable Non-Convertible Debentures through private placement. The company plans to raise funds up to INR 6,500 Crores, which will be issued in one or more tranches, as decided by the Board of Directors or a committee thereof.

In addition, the Board of Directors also approved the appointment of Mr. T M Saithumuhammed as the Chief Compliance Officer of the Company. The appointment will be effective from April 01, 2023, in line with the requirements of the RBI Circular DoS.CO.PPG./SEC.01/11.01.005/2022-23 dated April 11, 2022.

The meeting started at 10.00 AM (IST) and ended at 11.00 AM (IST). Muthoot Finance Limited is committed to maintaining transparency and complying with all applicable regulations to ensure the trust and confidence of its stakeholders.

About Muthoot Finance:

Muthoot Finance is NBFC engaged in the business of providing gold loans. The company predominately operates in Southern India.

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