Muthoot Finance, a gold loan-focused non-bank lender, plans to raise up to Rs 1,000 crore through a public issue of secured, redeemable non-convertible debentures (NCDs). This will be the company’s 33rd public issue. The NCDs have been rated AA+ by Crisil and Icra and will be listed on the BSE post allotment. The issue opens on January 8 and closes on January 19, with an option to close earlier if decided by the board.
Indel Money, a gold loan non-banking finance company (NBFC), has achieved a profit of Rs 21 crore in the first quarter of FY 24, marking a 63% QoQ growth. The company’s strong performance is attributed to operational efficiency and overall resilience in gold demand. The NBFC’s AUM grew by 61% YoY to Rs 1294.44 crore, and the annual disbursement rate increased by 40% YoY to Rs 850.64 crore, with gold loans accounting for 92% of the total. Revenue also grew by 74% in Q1FY24 compared to Q1FY23.
