Muthoot Fincorp NCD issueMuthoot Fincorp NCD Sep Tranche I 2023 Details

    NCD Issue Opens on 1 September 2023
    NCD Issue Closes on 14 September 2023 


    # NCD Guidance is given at the bottom of the post

    About the Company:

    Muthoot Fincorp is a non-deposit taking, systemically important NBFC registered with the RBI .TheCompany 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 June 30, 2023 comprised approximately 31.00 lakhs loan accounts. As of June 30, 2023 the Company operated out of 3,619 brancheslocated across 24 states, including union territory of Andaman and Nicobar Islands and the national capital territory of Delhi and employed 19,008employees including 110 contracted 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.

    For three months period ended June 30, 2023 and for Fiscal 2023, Fiscal 2022 and Fiscal 2021 revenues from its Gold loan business constituted 89.64%, 92.09%, 93.04% and 93.60% of our total income on standalone basis as per Ind AS, respectively.
    In addition to the Gold loan business, the Company provides foreign exchange conversion and money transfer services as sub-agents of various registered money transfer agencies. The Company is also engaged in following business:
    i. generation and sale of wind energy through its wind farms located in Tamil Nadu;
    ii. real estate business through joint venture developers of the company owned land parcels; and

    Get more details about the company @

    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.

    Muthoot Fincorp NCD Sep Tranche I 2023 Detail
    Issue Open Sep 1, 2023 – Sep 14, 2023
    Security Name Muthoot Fincorp Limited
    Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
    Issue Size (Base) Rs 400.00 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
    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%
    Retail 60%
    Category 4 0%
    NCD’s Offered by Category
    Category  NCD’s Reserved
    Institutional 2,00,000
    Non-Institutional 14,00,000
    Retail 24,00,000
    Category 4 0
    Total NCD’s 40,00,000
    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 Days 36 Days 60 Days 96 Days
    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% 9.43% 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

    Objects of the Issue
    The company proposes to utilise the funds which are being raised through the Issue:

    1. For the purpose of Working Capital– 75% of the amount raised and allotted in the Issue.

    2. For General Corporate Purposes– 25% of the amount raised and allotted in the Issue



    Company Financials      
    Muthoot Fincorp NCD Sep Tranche I 2023 Financial Information (Restated Consolidated)
    Period Ended 31-Mar-21 31-Mar-22 31-Mar-23
    Assets 26,284.54 28,422.34 32,134.61
    Revenue 4,101.19 4,355.13 5,151.33
    Profit After Tax 397.28 412.55 646.42
    Net Worth 3,034.70 3,731.16 4,257.18
    Reserves and Surplus      
    Total Borrowing      
    Amount in Rs Crore

    Address of the Company
    Muthoot Centre,
    TC No 27/3022 Punnen Road
    Trivandrum 695 001, Kerala
    NCD Lead Managers
    Smc Capitals Limited
    NCD Registrar
    Integrated Registry Management Services Pvt Ltd

    Muthoot Fincorp NCD Sep Tranche I 2023
    Red Herring Prospectus

    Analysis & Guidance:

    KLM Axiva Finvest NCD Tranche II 2023
    Subscription Status 
    On 12.09.2023 @ 5.00 pm
    Category Subscription 
    Institutional 0.01 T
    Non-Institutional 1.34 T
    HNI 0.00 T
    Retail 3.42 T
    Total 2.52 T

    Muthoot Fincorp NCD Sep Tranche I 2023

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