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    India New Issue-Muthoot Finance plans jumbo floating-rate bond issue, bankers say

    Picture of Cholamandalam Investment and Finance logoCholamandalam Investment and Finance
    22/05/2026 05:09
    MUMBAI, May 22 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise up to 50 billion rupees ($519.41 million), including a greenshoe option of 18.65 billion rupees, through a sale of floating-rate bonds maturing in three years and two months, three bankers said on Friday.

The bonds will carry an initial coupon of 8.52%, with subsequent resets linked to the three-month Treasury bill yield plus a spread of 315 basis points, they said, adding that the company has invited commitment bids for the issue on Monday.

The company did not immediately respond to a Reuters email seeking comment.

 Here is the list of deals reported so far on May 22:


    IssuerTenureCoupon (in %)Issue size (in bln rupees)*Bidding dateRating
    Muthoot Finance3 years and 2 months8.52 (initial)31.35+18.65May 25AA+ (Icra, Crisil)
    Cholamandalam Investment2 years and 9 months8.12 (initial)50May 25AA+(Icra, Care)
    

*Size includes base plus greenshoe for some issues

($1 = 96.2625 Indian rupees)

 (Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Ronojoy Mazumdar)

 ((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))

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