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NCD Status: Closed [10th Apr 2024 to 25th Apr 2024]
Muthoot Fincorp Limited is issuing secured and redeemable NCDs with a base issue size of Rs 100.00 Cr and Oversubscription issue size of Rs 260.00 Cr. The subscription period is opening from 10 Apr 2024 to 25 Apr 2024 and the company is issuing Series I to XIII 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 26, 38, 60, 72 and 90 months with a coupon rate of 8.90% to10.00% 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: | 10th Apr 2024 |
| NCD Closing Date: | 25th Apr 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹100.00Cr |
| 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: | 26, 38, 60, 72, and 94 Months |
| Rating: | CRISIL AA-/Stable by CRISIL Ratings Limited. |
| Series: | Series I to XIII |
| Payment Frequency: | Monthly, Annual and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 10th Apr 2024 |
| NCD Issue Close | 25th Apr 2024 |
| BSE Code: | 3390 |
| BSE Script Symbol: | MFINCORP19 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 50000 | 5% |
| Non-Institutional | 350000 | 35% |
| Retail | 600000 | 60% |
Founded in 1997, Muthoot Fincorp Limited is gold loans provider in the Indian market. The personal and business loans ("Gold Loans") offered by the company, which are secured by gold jewellery and ornaments, are structured to serve the business and personal purposes of individuals who do not have quick or timely access to formal credit or who do 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. Its gold loan products include Muthoot Blue Super Value Loan, Swarna Suraksha Super Value Easy Blue, Easy Max, Easy Pro, Restart India Pradhan, Easy Scale up and 24x7 Express Gold Loan. The company's 24x7 Express Gold Loan product can be availed by people who need a quick loan for their gold jewellery and already have a loan with the company. It is a type of top-up loan.
Apart from the gold loan business, the company offers foreign exchange and money transfer services as a sub agent of various registered money transfer agencies. Your Company is also 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 |
| 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 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 | Series 11 | Series 12 | Series 13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Annual | Annual | Annual | Annual | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 26 Months | 38 Months | 60 Months | 72 Months | 26 Months | 38 Months | 60 Months | 72 Months | 26 Months | 38 Months | 60 Months | 72 Months | 94 Months |
| Coupon (% per Annum) | 8.90% | 9.15% | 9.35% | 9.55% | 9.25% | 9.50% | 9.75% | 10.00% | NA | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 9.26% | 9.54% | 9.75% | 9.97% | 9.27% | 9.52% | 9.74% | 10.00% | 9.27% | 9.52% | 9.74% | 10.00% | 9.25% |
| 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 1,000.00 | Rs 1,000.00 | Rs 1,212.00 | Rs 1,334.00 | Rs 1,592.00 | Rs 1,772.00 | Rs 2,000.00 |
Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.
The NCDs proposed to be issued under this Issue have been rated CRISIL AA-/Stable by CRISIL Ratings Limited.
Last Updated on 2024-04-28T06:32:54+00:00
