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| Issue Size (Base) | ₹100.00 Cr |
| Issue Size (Shelf) | ₹200.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| 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 Mercentile 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 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 631.62 | 606.51 | 316.24 | 420.35 |
| Revenue | 46.45 | 94.67 | 67.02 | 49.39 |
| Profit After Tax | 8.93 | 18.19 | 17.02 | 14.02 |
| Net Worth | ||||
| Reserves and Surplus | 115.08 | 106.14 | 87.95 | 70.93 |
| Total Borrowing | ||||
| 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) | 9.50% | NA | 9.65% | NA | 9.75% | NA | 10.25% | NA | 10.50% | NA | NA |
| Effective Yield (% per Annum) | 9.92% | 9.75% | 10.09% | 9.77% | 10.20% | 9.77% | 10.75% | 10.18% | 11.02% | 9.61% | 11.73% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,097.50 | Rs 1,000.00 | Rs 1,150.00 | Rs 1,000.00 | Rs 1,205.00 | Rs 1,000.00 | Rs 1,337.50 | Rs 1,000.00 | Rs 1,582.50 | 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
Established in 1997, Muthoot Mercentile Limited is a non-deposit taking financial company primarily engaged in the lending business. It lends money against the pledge of household and/or second-hand gold jewellery (“Gold Loans”) mainly to retail customers who require immediate availability of funds but do not have immediate access to formal credit and also provides unsecured loans (“Pawn Loans") to retail customers for their personal needs.
The company started its operations in Thiruvananthapuram, Kerala and has decades of experience in the money lending business, primarily in the area of providing small loans against used household items and/or jewellery. The company's history has evolved over a period of 84 years since the late M. Ninan Muthoot (promoter Mathew Mathaininan's father) started the gold lending business in 1939, which evolved from a trading company originally established in 1925. Since its inception, the company has expanded the scale and geographical reach of its gold lending operations.
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 meet the varying needs of different 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.
