Muthoot Finance Ltd Tranche III NCD Oct 2022
Muthoot Finance Ltd. is an Indian financial corporation and the largest gold loan NBFC in the country. In addition to financing gold transactions, the company offers gold loan services, wealth management services, travel and tourism services, and sells gold coins. It is India’s No. 1 Most Trusted Financial Services Brand by Power of Trust, TRA’s Brand Trust Report for 6 years since 2016. With a resolute focus on providing customers with the best services, Muthoot Finance has managed to earn the trust of millions.
The company has 70 Cr satisfied customers including repeat customers, 5330 branches across India and more than 40000 employees and 80 years of family business legacy.
Muthoot Finance Ltd Tranche III NCD Oct 2022 Details
|Issue Open||Oct 6, 2022 – Oct 28, 2022|
|Security Name||Muthoot Finance Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)|
|Issue Size (Base)||Rs 75.00 Crores|
|Issue Size (Shelf)||Rs 225.00 Crores|
|Issue Price||Rs 1000 per NCD|
|Face Value||Rs 1000 each NCD|
|Minimum Lot size||10 NCD|
|Market Lot||1 NCD|
|Credit Rating||ICRA AA+/Stable|
|Tenor||36, 24 and 60 months|
|Series||Series I to VII|
|Payment Frequency||Monthly and Annually|
|Basis of Allotment||First Come First Serve Basis|
The NCDs proposed to be issued under the Issue have been rated [ICRA] AA+/Stable by ICRA Limited such ratings are considered to have a stable outlook.
NCD Allocation Ratio
|Coupon Rates||Series 1||Series 2||Series 3||Series 4||Series 5||Series 6||Series 7|
|Frequency of Interest Payment||Monthly||Monthly||Annual||Annual||Annual||NA||NA|
|Tenor||36 months||60 months||24 months||36 months||60 months||36 months||60 months|
|Coupon Rate (Retail)||7.00%||7.25%||7.00%||7.25%||7.50%||NA||NA|
|Effective Yield (% per Annum)||7.50%||7.75%||7.50%||7.75%||8.00%||7.75%||8.00%|
|Amount on Maturity||Rs 1,000||Rs 1,000||Rs 1,000||Rs 1,000||Rs 1,000||Rs 1,250.98||Rs 1,469.33|
Objects of the Issue
The Net Proceeds raised through this Tranche I Issue will be utilized for mainly for Lending purposes & General corporate purposes.
|Address of the Company
Muthoot Finance Limited, 2 nd Floor, Muthoot Chambers,
Opposite Saritha Theatre Complex, Banerji Road, Kochi 682 018
Muthoot Finance Ltd NCD 2022 Lead Managers
A.K. Capital Services Limited,
Muthoot Finance Ltd NCD Sep 2022 Registrar
Link Intime India Private Ltd
Email: [email protected]
Muthoot Finance Ltd Tranche III NCD Oct 2022 Analysis & Guidance: The company has strong fundamentals and can be ranked as India’s No.1 Gold loan company. The coupen rates are OK. The Issue have been rated [ICRA] AA+/Stable by ICRA Limited such ratings are considered to have a stable outlook. May Apply NCD.