Redeeming NCDs before maturity might be a challenge, as the Indian debt market is not that deep
Muthoot Finance Ltd has launched a secured non-convertible debenture (NCD) issue offering returns of 6.75-7.75%, annually. The issue has a base size of ₹100 crore, but the gold loan-focused non-banking financial company (NBFC) can raise it up to ₹1,000 crore, depending on the subscription. The NCD will remain open till 5 January 2021. “At a time when interest rates have significantly come down, we are able to offer attractive interest rates to retail and HNI investors," said George Alexander Muthoot, managing director, Muthoot Finance.