October 9, 2023
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Muthoot Fincorp NCD October Tranche II 2023 Details
NCD Issue Opens on 13 October 2023
NCD Issue Closes on 27 October 2023
# NCD Guidance will given at the bottom of the post
About the Company:
Muthoot Fincorp is a non-deposit taking, systemically important NBFC registered with the RBI bearing registration no. 16.00170 dated July 23, 2002, under Section 45 IA of the RBI Act. The Company is one of the prominent gold loan players in the Indian market. The personal and business loans secured by gold jewellery and ornaments (“Gold loans”) offered by the Company are structured to serve the business and personal purposes of individuals who do not have ready or timely access to formal credit or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.
The Gold loan portfolio of the Company as of March 31, 2023, comprised approximately 31.40 lakhs loan accounts. As of March 31, 2023, the Company operated out of 3,619 branches located across24 states, including union territory of Andaman and Nicobar Islands and the national capital territory of Delhi and employed 18509 employees including 138contracted experts in its operations. It has been engaged in the Gold loans business for over two decades and are headquartered in Kerala, India. The Company provides retail loan products, primarily comprising of Gold loans.
Get more details about the company @ http://www.muthootfincorp.com
NCD Promoter: Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot
NCD Rating
The company has received rating of CRISIL AA-/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
| Muthoot Fincorp NCD October Tranche II 2023 Detail | |
| Issue Open | October 13, 2023 – October 27, 2023 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | |
| Issue Size (Base) | Rs 225.00 Crores |
| Issue Size (Shelf) | Rs 1,100.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | CRISIL AA- /Stable by CRISIL Ratings Limited |
| Tenor | 24, 36, 60 and 96 Months |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
| NCD Allocation Ratio | |
| Category | NCD’s Allocated |
| Institutional | 5% |
| Non-Institutional | 35% |
| HNI | 0% |
| Retail | 60% |
| Total | 100% |
| NCD’s Offered by Category | |
| Category | NCD’s Reserved |
| Institutional | 112500 |
| Non-Institutional | 787500 |
| Retail | 1350000 |
| Category 4 | 0 |
| Total NCD’s | 2250000 |
| 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 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,188 | Rs 1,305 | Rs 1,570 | Rs 2,001 |
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
For the purpose of Working Capital – 75% of the amount raised and allotted in this Tranche II Issue.
For General Corporate Purposes – 25% of the amount raised and allotted in this Tranche II Issue.
| Company Financials | ||
| Muthoot Fincorp Limited Financial Information (Restated Consolidated) |
||
| Period Ended | 31-Mar-23 | 31-Mar-22 |
| 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 Rs Crore | ||
Address of the Company
Muthoot Fincorp Limited
Muthoot Centre,
TC No 27/3022 Punnen Road
Trivandrum – 695 001
NCD Lead Managers
Smc Capitals Limited
NCD Registrar
Integrated Registry Management Services Pvt ltd
Muthoot Fincorp NCD October Tranche II 2023
Red Herring Prospectus
Analysis & Guidance:
1.Very strong company,
2.excellent balance sheet,
3.far sighted management and
4. & most important, attractive rates of coupon rates.
Apply without any hesitation.
| Muthoot Fincorp NCD October Tranche II 2023 | |
| Subscription Status | |
| On 13.10.2023 | @ 5.00 pm |
| Category | Subscription |
| Institutional | ? T |
| Non-Institutional | ? T |
| HNI | ? T |
| Retail | ? T |
| Total | ? T |
