Mumbai: Leading gold loan company Muthoot Finance today said the company hopes to hit the debt markets with the third bond issue, their third one this fiscal, for Rs 500 crore by the end of the month.
"We have applied for Sebi permission this Monday and hope to get the go-ahead early next week for our Rs 250 crore NCD (non-convertible debenture) issue which has a green-shoe option of the same amount," Muthoot Finance managing director George Alexander Muthoot told PTI over phone from his headquarters in Kochi.
This is the third NCD issue from the company this fiscal. Earlier, the largest gold financing company in terms of loan portfolio, had raised Rs 1,150 crore through two NCD issues (Rs 690 crore and Rs 460 crore).

Stating that the debt raising is aimed completely at infusing working capital, he said, they have not fixed the coupon rate for the issue as the market regulator's nod is awaited.
In the last two issues, the company had offered 13 percent for two years and 13.25 percent for the three-five year bonds.
When asked whether the proposed issue could offer the previous coupon, Muthoot answered in the affirmative.
The company has so far raised Rs 10,000 crore worth working capital from as many as 30 banks and mutual funds.
Since the bank lending to gold financing companies was tightened by the Reserve Bank recently, he said his cost of fund has gone up to some extent.
Since the recent past, the cost of funds has gone up by 2.5-3 percent to 12.5-13 percent, while his net interest margin remained at 10.81 percent at the end of Q3.
However, he said in the fourth quarter he sees marginal fall in this to 9.5 percent as he doesn't see the interest rates falling before the new fiscal.
On the rationale for the third NCD route, Muthoot said, most of the banks have now reached their sectoral cap to the industry, forcing people like him to look for more diversified fund raising avenues.
As of the December quarter, the highly leveraged company had an asset size of Rs 23,000 crore out of which its share capital is just about Rs 3,000 crore, with the debt being the rest, Muthoot said.
On expansion plan, he said the company is likely to overshoot the branch plan by almost 100 to 800, taking the overall network to 3,480, by the end of the fiscal.
During the December quarter, the company's retail loan assets rose by Rs 1,944 crore to Rs 22,885 crore, while income grew 91 percent to Rs 1,231 crore, helping the company report a whopping 61 percent spike in net profit at Rs 251 crore as against Rs 155 crore year ago.