The company made reserves of Rs 1,571 crore as provision for NPAs or bad loans
Parent Muthoot Finance Board gives nod to infuse the money
Muthoot Finance said it will utilise the funds raised through this issue to lending activities of the company
Long term debt rating covers debt instruments of above one year
The stock surged nearly 7% to Rs 340, also its record high on the BSE in intra-day trade.
It had posted a net profit of Rs 183 crore in April-June 2015
The company's stock closed up 3.19% at Rs 318.65 on BSE
This will enable the company to diversify its investment products, said Muthoot Finance MD
The stock moved higher by 6% to Rs 270 on the BSE, extending its 18% rally in past one week.
The stock rallied 11% to Rs 239 after the company posted 61% YoY jump in profit at Rs 265 crore in Q4FY16.
The study was conducted by TRA Research