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| Issue Size (Base) | ₹50.00 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 | 367days, 18, 24, 36, 60, 75 months |
| Credit Rating | IND BBB/Stable by by India Ratings & Research Private Limited |
| Series | Series I to XI |
| Payment Frequency | Monthly and Cumulative |
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 promoter of the company is Mathew Mathaininan
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
| # | Issue Objects |
|---|
| 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 NCDs proposed to be issued under this Issue have been rated “IND BBB/Stable”, by India Ratings & Research Private Limited
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.
