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NCD Status: Closed [13th Oct 2023 to 27th Oct 2023]
Muthoot Fincorp Limited issues secured and Redeemable NCD comprises Base issue size worth of Rs 500.00 Cr and Shelf issue size of worth Rs 5000.00 Cr. The subscription is opening from 13 Oct 2023 to 27 Oct 2023. The company issues series I to X at an issue price of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs) . The face value of each NCD is Rs 1000. The NCD tenor is 24, 36, 60 and 96 months with a coupon rate ranging from 8.65% - 9.43% per annum.
Check more about the Muthoot Fincorp Limited including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 13th Oct 2023 |
| NCD Closing Date: | 27th Oct 2023 |
| NCD Type: | Unsecured NCD |
| Issue Size (Base): | ₹750.00Cr |
| 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: | 24, 36, 60 and 96 Months |
| Rating: | CRISIL AA- /Stable by CRISIL Ratings Limited |
| Series: | Series I to X |
| Payment Frequency: | Monthly, Annual and Cumulative |
| Basis of Allotment: | |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 13th Oct 2023 |
| NCD Issue Close | 27th Oct 2023 |
| BSE Code: | 3177 |
| BSE Script Symbol: | MFINCORP17 |
* - Tentative Dates
| Category Name | NCD's Reserved | NCD's Allocated |
|---|---|---|
| Institutional | 37500 | 5% |
| Non-Institutional | 262500 | 35% |
| Retail | 450000 | 60% |
Muthoot Fincorp Limited was incorporated in 1997 and is a non-deposit taking systemic NBFC registered with RBI under registration number 16.00170 dated July 23, 2002 under Section 45 IA of the RBI Act. The company is one of the leading providers of gold loans in the Indian market. The personal and business loans offered by this Company secured by gold jewellery and ornaments (“Gold Loans”) are structured to serve business and personal purposes of individuals who do not have immediate or timely access to formal credit or who may not have credit available at all to meet unforeseen or other short-term liquidity needs.
The company has been in the gold loan business for over two decades and is headquartered in Kerala, India. The company offers retail loan products, which primarily include f gold loans. Its gold loan products include Muthoot Blue Guide Gold loan, Muthoot Blue right Gold loan, Muthoot Blue Power Gold loan, Muthoot Blue Bigg Gold loan, Muthoot Blue mart Gold loan and 24x7 Express Gold loan. The product of this company, the “24x7 Express Old Loan”, 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. The “Smart Plus Gold Loan”," the company's other gold loan option, is specifically for professionals and has a term of up to 24 months.
The Company’s subsidiaries are 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 | ||
| Total Borrowing | ||
| Amount in ₹ Crore | ||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Annual | Annual | Annual | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 96 Months |
| Coupon (% per Annum) | 8.65% | 8.90% | 9.05% | 9.00% | 9.27% | 9.44% | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 8.99% | 9.26% | 9.42% | 8.99% | 9.26% | 9.43% | 8.99% | 9.26% | 9.43% | 9.05% |
| 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 1,188.00 | Rs 1,305.00 | Rs 1,570.00 | Rs 2,001.00 |
Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.
The company has received rating of CRISIL AA-/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Last Updated on 2023-10-30T06:32:51+00:00
