More News
TRADE FINANCE | Cesar Tordesillas, India

Muthoot Finance to expand in West Bengal from 50 to 100 branches

Muthoot Group will open 50 branches in West Bengal by March 2012.


This will bring its tally in the state to 100, the company managing director George Alexander Muthoot.

The Kochi-based gold loan financing company  is going in for a public issue of secured, redeemable, non-convertible debentures to raise up to Rs 1,000 crore. The issue will open on August 23 and closes on September 5. The NCDs will offer interest rates between 11.75% and 12.25% annually.

Mr Muthoot said the company is raising the fund for diversifying its investor base. It has recently raised Rs 900 crore from its initial public offer.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.