The NCDs are proposed to be listed on Bombay Stock Exchange (BSE) or National Stock Exchange (NSE).

Meanwhile, the NBFC's board has approved the appointment of T M Saithumuhammed as the chief compliance officer of the company with effect from 1 April 2023.

Muthoot Finance is the flagship company of the Kerala-based business house, The Muthoot Group, which has diversified operations in financial services, healthcare, education and hospitality. It is India's largest gold loan focused NBFC.

The company's standalone net profit slipped 12.4% to Rs 901.65 crore on 7.1% decrease in total income to Rs 2,667.10 crore in Q3 FY23 over Q3 FY22.