The issue is rated by two Credit Rating Agencies - Crisil and Icra. Both agencies have awarded a long-term debt rating of 'AA/Stable' for the debentures offered under the issue. The rating scale denotes 'High degree of safety regarding timely servicing of financial obligations and very low credit risk'. The NCDs are proposed to be listed on the BSE. The allotment is based on first come first serve basis. The Muthoot stock was trading higher at Rs 675.70 a share, up Rs 6.55, or by 0.98 per cent, on the BSE at 1.15 p.m. There are ten investment options for secured NCDs with 'monthly' or 'annual' interest payment frequency, or 'on maturity redemption' payments with effective yield per annum ranging from 9.2 per cent to 10.00 per cent. The funds raised through this issue will be utilised primarily for lending activities of the company, it said.