Muthoot Finance NCD will open for subscription from 08 February 2023. the company aims for a base issue size of ₹500 Crores.
Muthoot Finance Limited
Incorporated in 1997, Muthoot Finance Limited is a Kerala-based gold loan NBFC company with a legacy of 800 years of the family business. The company offers Gold loans, Housing Finance (Home Loans), Personal loans, Insurance, Gold Coins, Money Transfer Services, Foreign Exchange, Mutual Funds, Micro Finance, and Vehicle loan.
Muthoot Finance Gold Loan portfolio as of September 30, 2022, comprises approximately 8.16 million loan accounts in India that we serviced through 4,641 branches across 22 states, the national capital territory of Delhi, and six union territories in India. As of September 30, 2022, the company has employed 27,204 persons in our operations. As of March 31, 2022, the company had Rs. 276,630.69 million as borrowings from banks and financial institutions.
Objectives of the Issue
- For the purpose of lending – a minimum of 75% of the amount raised and allotted in the Issue,
- For General Corporate Purposes – shall not exceed 25% of the amount raised and allotted in the Issue.
Muthoot Finance Limited Tranche V NCD Feb 2023 Details
| Issue Open | Feb 8, 2023 – Mar 3, 2023 |
| Security Name | Muthoot Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 500.00 Crores |
| Issue Size (Shelf) | Rs 3,000.00 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 | AA+/Stable by ICRA. |
| Tenor | 25, 37 and 61 months |
| Series | Series I to VII |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustees | IDBI TRUSTEESHIP SERVICES LTD. |
Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 37 months | Monthly | 7.75% | 8.25% | INR 1,000 |
| Series 2 | 61 months | Monthly | 7.85% | 8.35% | INR 1,000 |
| Series 3 | 25 months | Annual | 7.75% | 8.25% | INR 1,000 |
| Series 4 | 37 months | Annual | 8.00% | 8.50% | INR 1,000 |
| Series 5 | 61 months | Annual | 8.10% | 8.60% | INR 1,000 |
| Series 6 | 37 months | Cumulative | NA | 8.50% | INR 1,286.34 |
| Series 7 | 61 months | Cumulative | NA | 8.60% | INR 1,521.42 |
NCD Rating
The NCDs proposed to be issued under this Issue have been rated [ICRA] AA+/Stable (pronounced as ICRA Double A plus rating with stable outlook) by ICRA.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31-Mar-20 | 54881.69 | 9707.27 | 3168.68 | 11829.21 |
| 31-Mar-21 | 68641.44 | 11566.42 | 3818.87 | 15575.02 |
| 31-Mar-22 | 76316.47 | 12237.46 | 4031.32 | 18785.72 |
NCD Allocation Ratio
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 50,000 |
| Non-Institutional | 50,000 |
| HNI | 400,000 |
| Retail | 500,000 |
| Total NCD’s | 1,000,000 |
Company Promoters
- George Thomas Muthoot
- George Jacob Muthoot
- George Alexander Muthoot
Muthoot Finance NCD Documents
Lead Manager(s)
A. K. CAPITAL SERVICES LIMITED
603, 6th Floor, Windsor,
Off CST Road, Kalina, Santacruz – (East),
Mumbai – 400 098, India
Phone: +91 22 6754 6500
Email: mfl.ncd2022@akgroup.co.in
Website: www.akgroup.co.in
Muthoot Finance NCD Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 22 4918 6200
Email: mfl.ncd2022@linkintime.co.in
Website: www.linkintime.co.in
Muthoot Finance Contact Details
MUTHOOT FINANCE LIMITED
2nd Floor, Muthoot Chambers,
Opposite Saritha Theatre Complex,
Banerji Road, Kochi 682 018, India
Phone: +91 484 239 4712
Email: ncd@muthootgroup.com
Website: www.muthootfinance.com
Final Thoughts
Non-Convertible Debentures (NCD) are a better investment option for those who are looking for a diversified portfolio. investing in Muthoot Finance NCD is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing
