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NCD Status: Closed [8th Feb 2023 to 3rd Mar 2023]
Muthoot Finance Limited issues secured and Redeemable NCD comprises Base issue size worth of Rs 500.00 Cr and Shelf issue size of worth Rs 3000.00 Cr. The subscription is opening from 08 Feb 2023 to 03 Mar 2023. . The company issues series I to VII at an issue price of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs). The face value of each NCD is Rs 1000. The NCD tenor is 25, 37, and 61 months with a coupon rate ranging from 7.75% - 8.60% per annum.
Check more about the Muthoot Finance Limited NCD 2022 including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 8th Feb 2023 |
| NCD Closing Date: | 3rd Mar 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹500.00Cr |
| Issue Size (Shelf): | ₹3000.00Cr |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE |
| Tenor: | 25, 37 and 61 months |
| Rating: | AA+/Stable by ICRA. |
| Series: | Series I to VII |
| Payment Frequency: | Monthly and Annually |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 8th Feb 2023 |
| NCD Issue Close | 3rd Mar 2023 |
| BSE Code: | 2917 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 50000 | 5% |
| Non-Institutional | 50000 | 5% |
| HNI | 400000 | 40% |
| Retail | 500000 | 50% |
This Company was originally incorporated at Kochi, Kerala as a private limited company on March 14, 1997. This is the largest gold loan NBFC in India in terms of loan portfolio. According to the ICRA Analytics Limited Industry Report, they were ranked the largest gold loan company in India in terms of loan portfolio as of March 31, 2021.
Muthoot Finance provides personal loans and business loans secured by gold jewelry, or Gold Loans, primarily to individuals who possess gold jewelry but are not able to access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements. Its branches act as the primary point of sale by assisting with their loan origination , disbursal and collection processes as well as facilitating customer interaction.
Historically, they raised capital by issuing secured non-convertible debentures called "Muthoot Gold Bonds" on a private placement basis to retail investors. they also rely on loans from banks and financial institutions as their sources of funds. As of March 31, 2021, this company had Rs 198,331.43 million as borrowings from banks and financial institutions. They also raise capital by issuing commercial paper and listed and credit rated non-convertible debentures under private placement mode or through public issues to various institutional corporate.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-20 | 54881.69 | 9707.27 | 3168.68 | 11829.21 |
| 31-Mar-21 | 68641.44 | 11566.42 | 3818.87 | 15575.02 |
| 31-Mar-22 | 76316.47 | 12237.46 | 4031.32 | 18785.72 |
| Amount in ₹ Crore | ||||
The Net Proceeds raised through this Tranche V Issue will be utilised for following activities:
Muthoot Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 |
|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Annual | Annual | Annual | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 37 months | 61 months | 25 months | 37 months | 61 months | 37 months | 61 months |
| Coupon Rate (Retail) | 8.25% | 8.35% | 8.25% | 8.50% | 8.60% | NA | NA |
| Effective Yield (% per Annum) | 8.25% | 8.35% | 8.25% | 8.50% | 8.60% | 8.50% | 8.60% |
| Amount on Maturity | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,286.34 | Rs 1,521.42 |
George Thomas Muthoot, George Jacob Muthoot and George Alexander Muthoot are the company promoters.
The NCDs proposed to be issued under this Issue have been rated [ICRA] AA+/Stable (pronounced as ICRA Double A plus rating with stable outlook) by ICRA.
Last Updated on 2023-03-06T02:30:23+00:00
