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NCD Status: Closed [8th Jan 2024 to 19th Jan 2024]
Muthoot Finance Limited is issuing secured and redeemable NCDs with a base issue size of Rs 100.00 Cr and a shelf issue size of Rs 2600.00 Cr. The subscription period is from January 8, 2024 to January 19, 2024 and the company is issuing Series I to X at an issue price of Rs. 1000 per NCD. The lot size of an NCD is approximately 10 NCDs, making the total cost of an NCD Rs. 10,000. The face value of each NCD is Rs. 1000. The tenure of the NCDs is 24, 36 and 60 months with a coupon of 8.25% to 9.00% per annum.
Learn more about Muthoot Finance Limited, including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 8th Jan 2024 |
| NCD Closing Date: | 19th Jan 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹100.00Cr |
| Issue Size (Shelf): | ₹900.00Cr |
| 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: | 24, 36, and 60 Months |
| Rating: | [ICRA] AA+/Stable by ICRA Limited |
| 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 Jan 2024 |
| NCD Issue Close | 19th Jan 2024 |
| BSE Code: | 3257 |
| BSE Script Symbol: | MFLXXXIII |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 50000 | 5% |
| Non-Institutional | 300000 | 30% |
| HNI | 300000 | 30% |
| Retail | 350000 | 35% |
Muthoot Finance Limited was incorporated in March 1997 and is the largest gold loan NBFC in India in terms of loan portfolio. According to CRISIL Limited, CRISIL Research – Industry Report on Gold Loans in March 2023, Muthoot Finance Limited is the largest gold loan NBFC. The company offers personal and business loans or gold loans secured by gold jewelry, primarily to individuals who own gold jewelry but are unable to obtain official credit within a reasonable period of time, or who may not have credit available at all to meet unforeseen or other short-term liquidity requirements. According to the CRISIL Research – Industry Report on Gold Loans, March 2023, the company's branch network was the largest among gold loan NBFCs in India.
The company provides money remittance services through its branches as a sub-agent of various registered money remittance agencies and also provides debt collection services. The company has started providing unsecured loans to individuals and loans to traders and self-employed persons. Through its subsidiaries, it also offers microfinance, housing finance, vehicle and equipment finance and insurance brokerage services. They believe that these services will enable us to improve their visibility and profitability and increase customer presence in their branches.
The Company raises capital by issuing secured non-convertible debentures known as “Muthoot Gold Bonds” in a private placement to retail investors. The Company also raises capital through the issuance of commercial paper and listed and credit rated non-convertible debentures in private placements or public offerings to various institutional entities, high net worth individuals and retail investors.
Muthoot Finance Limited's revenue decreased by -5% and profit after tax (PAT) dropped by -12.16% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 72,619.81 | 70,554.69 | 63,464.92 |
| Revenue | 10,543.75 | 11,098.39 | 10,574.36 |
| Profit After Tax | 3,473.53 | 3,954.30 | 3,722.18 |
| Net Worth | 2,106.20 | 18,344.57 | 15,238.89 |
| Amount in ₹ Crore | |||
The Net Proceeds raised through the Tranche III Issue will be utilised for the following activities in the ratio provided below:
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 | NA | NA |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 36 Months | 60 Months |
| Coupon (% per Annum) | 8.25% | 8.25% | 8.25% | 8.50% | 8.50% | NA | NA |
| Effective Yield (% per Annum) | 8.75% | 8.75% | 8.75% | 9.00% | 9.00% | 9.00% | 9.00% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,295.03 | Rs 1,538.62 |
Mr. George Thomas Muthoot, Mr. George Jacob Muthoot, and Mr. George Alexander Muthoot are the promoters of the company.
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 Limited.
Last Updated on 2024-01-22T05:33:03+00:00
