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NCD Status: Closed [12th Apr 2023 to 26th Apr 2023]
Muthoot Fincorp Limited issues secured and Redeemable NCD comprises Base issue size worth of Rs 150.00 Cr and Shelf issue size of worth Rs 300.00 Cr. The subscription is opening from 12 Apr 2023 to 26 Apr 2023. The company issues series I to VIII 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 27, 42, 60 and 84 months with a coupon rate ranging from 8.40% - 9.37% per annum.
Check more about the Muthoot Fincorp Limited including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 12th Apr 2023 |
| NCD Closing Date: | 26th Apr 2023 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹150.00Cr |
| Issue Size (Shelf): | ₹300.00Cr |
| 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: | 27, 42, 60 and 84 Months |
| Rating: | CRISIL AA-/Stable by CRISIL Ratings Limited |
| Series: | Series I to VIII |
| Payment Frequency: | Monthly, Annual and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 12th Apr 2023 |
| NCD Issue Close | 26th Apr 2023 |
| BSE Code: | 2978 |
| BSE Script Symbol: | MFINCORP15 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 75000 | 5% |
| Non-Institutional | 525000 | 35% |
| Retail | 900000 | 60% |
Muthoot Fincorp Limited was incorporated in June 1997, The Company is one of the prominent gold loan players in the Indian market. The personal and business loans secured by gold jewellery and ornaments ("gold loans") offered by this Company are structured to serve the business and personal purposes of individuals who do not have ready or timely access to formal credit or o whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.
They have been engaged in the Gold loans business for over two decades and are headquartered in Kerala, India. This Company provides retail loan products, primarily comprised of Gold loans. The gold loan products include the 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. The product of this Company, the 24x7 Express Gold loan can be utilised by individuals who require quick loans against their gold jewellery and who have an existing loan with the company. This is a type of top-up loan. Smart Plus Gold loan, the other Gold loan variant of this company is specifically designed for salaried customers, with a tenure of up to 24 months.
In addition to the Gold loan business, this Company provides foreign exchange conversion and money transfer services as sub-agents of various registered money transfer agencies. The Company is also engaged in the following business:
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 21,241.81 | 3,765.99 | 257.93 |
| 31-Mar-21 | 26,284.54 | 4,101.19 | 397.28 |
| 31-Mar-22 | 28,422.34 | 4,355.13 | 412.55 |
| Amount in ₹ Crore | |||
The company proposes to utilise the funds which are being raised through the Issue:
1. For the purpose of Working Capital-- 75% of the amount raised and allotted in the Issue.
2. For General Corporate Purposes-- 25% of the amount raised and allotted in the Issue
Muthoot Fincorp Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 |
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Annual | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 27 Months | 42 Months | 60 Months | 84 Months | 60 Months | 27 Months | 42 Months | 84 Months |
| Coupon (% per Annum) | 8.40% | 8.65% | 8.80% | 9.00% | 9.15% | NA | NA | NA |
| Effective Yield (% per Annum) | 8.71% | 9.00% | 9.15% | 9.37% | 9.15% | 8.71% | 9.00% | 9.37% |
| 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 1,207.00 | Rs 1,353.00 | Rs 1,873.00 |
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 2023-04-29T03:30:21+00:00
