Deal: Muthoot Finance's tranche II issue of NCDs aggregating up to INR 7,000 million

Trilegal acted as the sole counsel for the public issue of secured, rated, listed, redeemable, non-convertible debentures of face value of INR 1,000 each for an amount of INR 1,000 million with an option to retain oversubscription up to ₹6,000 million aggregating to ₹7,000 million which is within the shelf limit of ₹26,000 million (“Tranche II Issue”).

Muthoot Finance Ltd is the largest gold loan non-banking financial corporation in India in terms of loan portfolio. This is one of the first public issuances to be undertaken by the Issuer under the Securities and Exchange Board of India (Issue and Listing of Non-convertible Securities) (Second Amendment) Regulations, 2023, wherein certain changes with respect to the disclosure requirements for public issue of NCDs had been proposed.

The deal was led by our Partners Richa Choudhary (Capital Markets) and Joseph Jimmy (Banking and Finance), who were supported by attorneys Avanti Kale, Aman Bahl, Kaaba Khan and Lalitha Nandula.

Media Link:

https://www.livemint.com/companies/news/muthoot-finance-to-raise-rs-700-crore-via-issue-of-non-convertible-debentures-11695359783904.html

About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.

For more information, please contact:

Sahil Wason
Mob: +91-8928008122 | BD@trilegal.com