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| Issue Size (Base) | ₹100.00 Cr |
| Issue Size (Shelf) | ₹2600.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE |
| Tenor | 24, 36, and 60 Months |
| Credit Rating | [ICRA] AA+/Stable by ICRA Limited |
| Series | Series I to VII |
| Payment Frequency | Monthly and Annually |
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 68,641.44 | 76,316.47 | 80,148.92 |
| Revenue | 11,570.20 | 12,238.16 | 11,975.01 |
| Profit After Tax | 3,818.87 | 4,031.42 | 3,669.77 |
| Net Worth | |||
| Reserves and Surplus | |||
| Total Borrowing |
Mr. George Thomas Muthoot, Mr. George Jacob Muthoot, and Mr. George Alexander Muthoot are the promoters of the company.
The Net Proceeds raised through the Tranche II Issue will be utilized for the following activities:
| # | Issue Objects |
|---|---|
| 1 | For the purpose of lending - a minimum of 75% of the amount raised and allotted in the Issue. |
| 2 | For General Corporate Purposes - shall not exceed 25% of the amount raised and allotted in the Issue. |
| 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) | 7.75% | 7.75% | 7.75% | 8.00% | 8.00% | 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 1,259.71 | Rs 1,538.62 |
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.
Muthoot Finance Limited was established in 1997 and is the largest gold loan NBFC in India by loan portfolio. It 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 have no credit at all to meet unforeseen or other short-term liquidity needs. In addition to their gold lending business, they provide money transfer services through their branches as subagents of various registered money transfer agencies and also provide collection services.
They have started providing unsecured loans to individuals as well as loans to tradesmen and self-employed persons. Through their subsidiaries, they also provide microfinance, housing finance, vehicle and equipment finance, and insurance brokerage services. They believe that these services will allow us to improve their visibility and profitability and increase customer presence in their branches.
Their customers are typically small business owners, vendors, merchants, farmers and employees who, out of convenience, accessibility or necessity, utilize their credit facilities by pledging their gold jewelry with us instead of borrowing from banks and other financial institutions. They offer retail credit products, which primarily include gold loans. Their gold loans have a maximum term of 12 months.
