Kochi, Sept. 16 -- Muthoot Finance, India's largest gold loan non-banking financial company (NBFC), has successfully raised USD 600 million from the international bond market through an External Commercial Borrowing (ECB) issuance.
The funds will be used to expand lending activities and enhance credit access for customers across India.
The issuance drew strong global interest, with 49 percent of subscriptions coming from investors in the US, 36 percent from Asia and 15 percent from the EMEA region. By investor type, fund and asset managers accounted for 91 percent of subscriptions, while private banks, and insurance companies contributed four percent each, and other investors made up the remaining one percent, signalling strong institutio...