Muthoot Finance to raise up to Rs 6,000 cr via NCDs
New Delhi: Muthoot Finance today said it will raise Rs 6,000 crore through public issue of non-convertible debentures (NCDs).
"Board of directors of Muthoot Finance in its meeting held on May 16, 2018, has decided to raise funds up to an amount of Rs 6,000 crore by way of public issue(s) of redeemable non-convertible debentures (NCDs)," the company said in a regulatory filing.
The money is to be issued in one or more tranches.
Muthoot Finance today reported a jump of over 40 per cent in its standalone net profit at Rs 451 crore in the quarter ended March of 2017-18. The company had registered a net profit of Rs 321.78 crore in the same quarter a year ago.
On yearly basis, net income profit was up by 46 per cent at Rs 1,720.27 crore in 2017-18 as against Rs 1,179.83 crore in the preceding fiscal. Total income stood at Rs 6,185.27 crore in the fiscal ended March 2018 as against Rs 5,728.63 crore in the year-ago fiscal.
Stock of Muthoot Finance closed 1.18 per cent down at Rs 420.45 apiece on the BSE today.
Travel services provider Thomas Cook India today said it has inked a three-year agreement with Seoul Tourism to promote Seoul as a leisure destination for outbound travellers from India.
Karaikal Port Ltd, developed by city-based MARG Ltd, has asked Southern Railway to set up two new railway lines to boost cargo movement.
The amendments to the insolvency law which empowers home buyers to be recognised as financial creditors was introduced in the Lok Sabha today, even as opposition parties objected to certain changes in the Act alleging that these intended to "help one industry".
Shares of Tesla Inc (TSLA.O) fell more than 4 percent in trading before the bell, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit.
U.S. private equity firm Blackstone Group (BX.N) has secured EU antitrust approval to acquire a majority stake in Thomson Reuters’ (TRI.TO) Financial and Risk unit, the European Commission said.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.