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NCD Status: Closed [6th May 2024 to 17th May 2024]
Muthoot Mercantile Limited is issuing Secured and Redeemable NCDs with a base issue size of Rs 50.00 Cr and oversubscription issue size of Rs 50.00 Cr. The subscription period will be opening from 06 Apr 2024 to 17 May 2024 and the company is issuing Series I to XI at an issue price of Rs. 1000 per NCD. The lot size of NCD is about of 01 NCD , 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 367 Days, 18, 24 and 36 months with a coupon rate of 8.85% to 9.70% per annum.
Learn more about Muthoot Mercantile Limited including credit rating, coupon rates for each series, basis of allotment, payment frequency and more.
| NCD Opening Date: | 6th May 2024 |
| NCD Closing Date: | 17th May 2024 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | ₹50.00Cr |
| Issue Size (Shelf): | |
| 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: | 367days, 18, 24, 36, 60, 75 months |
| Rating: | IND BBB/Stable by by India Ratings & Research Private Limited |
| Series: | Series I to XI |
| Payment Frequency: | Monthly and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 6th May 2024 |
| NCD Issue Close | 17th May 2024 |
| BSE Code: | 3425 |
| BSE Script Symbol: | MMLNCDII |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 50000 | 10% |
| Non-Institutional | 200000 | 40% |
| Retail | 250000 | 50% |
Muthoot Mercantile Limited was incorporated in March 1997. The company commenced operations in Thiruvananthapuram, Kerala and has decades of experience in the money lending business, primarily in providing small loans against household and/or second hand gold jewellery.
The company has developed various gold loan programmes that are variable in terms of loan amount per gramme of gold, interest rate and loan amount to suit the varying needs of customers. The gold loan customers are mostly individuals from rural and semi-urban areas as well as metropolitan cities like Mumbai and Delhi, who generally require funds for social obligations, emergencies, agricultural activities, small businesses or consumption purposes.
The company also offers Pronote loans, which are unsecured loans to existing customers for their personal needs including consumption purposes. The Pronote loan portfolio had an outstanding principal amount of 2,003.53 lakhs as on August 31, 2023, which is 3.52% of the total outstanding loans.
Muthoot Mercantile Limited's revenue increased by 41.25% and profit after tax (PAT) rose by 6.85% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 818.04 | 606.51 | 420.36 | 316.24 |
| Revenue | 35.91 | 94.67 | 67.02 | 49.39 |
| Profit After Tax | 8.73 | 18.19 | 17.02 | 14.02 |
| Net Worth | 148.74 | 135.56 | 117.37 | 100.35 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the funds which are being raised through the Issue, after deducting the Issue-related expenses to the extent payable by the company towards funding the following objects
Muthoot Mercantile 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 367 Days | 367 Days | 18 Months | 18 Months | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 75 Months |
| Coupon (% per Annum) | 10.50% | NA | 10.50% | NA | 10.60% | NA | 10.75% | NA | 10.80% | NA | NA |
| Effective Yield (% per Annum) | 11.02% | 10.60% | 11.02% | 10.34% | 11.13% | 10.45% | 11.30% | 10.66% | 11.35% | 10.63% | 11.73% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,106.00 | Rs 1,000.00 | Rs 1,159.00 | Rs 1,000.00 | Rs 1,292.92 | Rs 1,000.00 | Rs 1,355.10 | Rs 1,000.00 | Rs 1,657.16 | Rs 2,000.00 |
The promoter of the company is Mathew Mathaininan
The NCDs proposed to be issued under this Issue have been rated “IND BBB/Stable”, by India Ratings & Research Private Limited
Last Updated on 2024-05-19T06:32:50+00:00
