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NCD Status: Closed [12th Jan 2024 to 25th Jan 2024]
Muthoot Fincorp Limited is issuing secured and redeemable NCDs with a base issue size of Rs 100.00 Cr and shelf issue size of Rs 1100.00 Cr. The subscription period is opening from 12 Jan 2024 to 25 Jan 2024 and the company is issuing Series I to X at an issue price of Rs. 1000 per NCD. The lot size of NCD is about of 10 lots, so the total cost for NCD is Rs 10,000. The face value of each NCD is Rs. 1000. The tenure of the NCDs is 24, 36, 60 and 96 months with a coupon rate of 8.90% to 9.75% per annum.
Learn more about Muthoot Fincorp Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 12th Jan 2024 |
| NCD Closing Date: | 25th Jan 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹75.00Cr |
| Issue Size (Shelf): | ₹1100.00Cr |
| 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, 60 and 96 Months |
| Rating: | CRISIL AA- /Stable by CRISIL Ratings Limited |
| Series: | Series I to X |
| Payment Frequency: | Monthly, Annual and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 12th Jan 2024 |
| NCD Issue Close | 25th Jan 2024 |
| BSE Code: | 3259 |
| BSE Script Symbol: | MFINCORP18 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 37500 | 5% |
| Non-Institutional | 262500 | 35% |
| Retail | 450000 | 60% |
Muthoot Fincorp Limited is an RBI registered medium sized NBFC (“NBFC ML”). This company is one of the leading providers of gold loans in the Indian market. The personal and business loans offered by the Company secured by gold jewellery and ornaments (“Gold Loans”) are structured to serve business and personal purposes of individuals who do not have immediate or timely access to formal credit or who may not have credit available at all to meet unforeseen or other short-term liquidity requirements.
The company has been in the gold lending business for over two decades and is headquartered in Kerala, India. The company offers retail lending products consisting mainly of gold loans. The gold loan products include Muthoot Blue Guide Gold loan, Muthoot Blue Bright Gold loan, Muthoot Blue Power Gold loan, Muthoot Blue Bigg Gold loan, Muthoot Blue Smart Gold loan and 24x7 Express Gold loan. This company's product, the “24x7 Express Gold Loan”, can be availed by people who need a quick loan for their gold jewellery and already have a loan with this company. It is a type of top-up loan. The “Smart Plus Gold Loan”, our company's other gold loan variant, was specially developed for salaried employees and has a term of up to 24 months.
Main Business of our Subsidiary Companies
This Company’s subsidiaries are engaged in the following businesses:
Muthoot Fincorp Limited's revenue increased by 18.28% and profit after tax (PAT) rose by 56.69% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 32,134.61 | 28,422.47 |
| Revenue | 5,151.33 | 4,355.13 |
| Profit After Tax | 646.42 | 412.55 |
| Net Worth | 4,257.18 | 3,731.16 |
| Reserves and Surplus | 3,481.27 | 2,958.70 |
| Total Borrowing | ||
| Amount in ₹ Crore | ||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Muthoot Fincorp Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Annual | Annual | Annual | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 96 Months |
| Coupon (% per Annum) | 8.90% | 9.15% | 9.35% | 9.25% | 9.50% | 9.75% | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 9.26% | 9.53% | 9.75% | 9.25% | 9.50% | 9.75% | 9.25% | 9.50% | 9.75% | 9.05% |
| 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 1,000.00 | Rs 1,194.00 | Rs 1,313.00 | Rs 1,592.00 | Rs 2,001.00 |
Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.
The company has received rating of CRISIL AA-/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Last Updated on 2024-01-28T05:33:06+00:00
