Muthoot FinCorp announced on Wednesday that it plans to raise up to Rs 360 crore through a public bond offering. The issue began on April 10 and will end on April 25.

"Muthoot FinCorp Limited has launched the XVI Tranche IV series of secured, redeemable, non-convertible debentures (NCDs) to raise an aggregate of Rs 360 crore, which falls within the shelf limit of Rs 1,100 crore. The tranche IV issuance amounts to Rs 100 crore, with a green shoe option of Rs 260 crore, totaling up to Rs 360 crore ("Tranche IV Issue")," Muthoot FinCorp said in a statement.

The issuance provides NCDs with maturities/tenure options of 26 months, 38 months, 60 months, 72 months, and 94 months, with monthly, yearly, and cumulative payment options available across various schemes. 

"With an AA-/Stable rating from CRISIL, excellent interest rates, and different tenure options, we are dedicated on providing our investors with an appropriate outlet to diversify their investment portfolio," said Shaji Varghese, CEO, Muthoot FinCorp Ltd.

Muthoot FinCorp is the flagship company of the Muthoot Pappachan Group, which has been around for 137 yers