Muthoot Capital Services Ltd (MCSL), the non - banking finance company (NBFC), here on Monday announced conclusion of a Rs 236 crore two - wheeler securitisation deal with HDFC Mutual Fund (HDFC - MF).
"This deal is one of the largest securitisations deals in the two - wheeler finance space and the biggest securitisation transaction so far for MCSL, " a company statement said.
"HDFC - MF subscribed to the entire issuance.
The underlying loan pool received from Crisil an AA rating, a significant achievement in this asset class, " it said.
Muthoot Capital, the micro - financing arm of the Muthoot Pappachan group, is primarily into auto - finance business.
Securitisation refers to transactions wherein a lender sells a portfolio of future receivables, and has recently become a preferred mechanism for NBFCs to raise funds.
Muthoot Capital has a portfolio of around Rs 2, 600 crore with 7 lakh customers, spread across 18 states, the statement added.