Muthoot Finance Tranche I NCD April 2023 opens for subscription from 12 April 2023. the company aims for a base issue size of ₹75 Crores.
Muthoot Finance Limited
Incorporated in 1997, Muthoot Finance (MFL) is the flagship company of the Kerala-based business house, and is the largest gold loan NBFC in India in terms of the loan portfolio. It provides personal loans and business loans secured by gold jewelry, or Gold Loans, primarily to individuals who possess gold jewelry but are not able to access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.
Its Gold Loan portfolio as of 31 December 2022 comprised approximately 8.11 million loan accounts in India that it serviced through 4,672 branches across 22 states, the national capital territory of Delhi, and six union territories in India. As of 31 December 2022, it employed 26,399 persons in its operations.
For the years ended 31 March 2020, 2021, and 2022, revenues from the gold loan business constituted 96.81%, 95.88%, and 96.67% respectively of its total income. In addition to the Gold Loans business, the company provides money transfer services through its branches as sub-agents of various registered money transfer agencies and also provides collection agency services.
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 I NCD April 2023 Details
| Issue Open | Apr 12, 2023 – Apr 26, 2023 |
| 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 300.00 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 | [ICRA] AA+/Stable by ICRA Limited |
| 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 Trusties | IDBI TRUSTEESHIP SERVICES LTD. |
Options and Coupon Rates
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 37 months | Monthly | 7.75% | 8.25% | ₹ 1,000 |
| Series 2 | 61 months | Monthly | 7.85% | 8.35% | ₹ 1,000 |
| Series 3 | 25 months | Annual | 7.75% | 8.25% | ₹ 1,000 |
| Series 4 | 37 months | Annual | 8.00% | 8.50% | ₹ 1,000 |
| Series 5 | 61 months | Annual | 8.10% | 8.60% | ₹ 1,000 |
| Series 6 | 37 months | Cumulative | NA | 8.50% | ₹ 1,286.34 |
| Series 7 | 61 months | Cumulative | NA | 8.60% | ₹ 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 Limited.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 54,881.69 | 9,707.27 | 3,168.68 |
| 31-Mar-21 | 68,641.44 | 11,566.42 | 3,818.87 |
| 31-Mar-22 | 76,316.47 | 12,237.46 | 4,031.32 |
NCD Allocation Ratio
Company Promoters
- George Thomas Muthoot
- George Jacob Muthoot
- George Alexander Muthoot
NCD Lead Manager
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.ncd2023@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.ncd2023@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
Muthoot Finance NCD April 2023 Allotment Status
Muthoot Finance NCD April 2023 allotment status will be updated at the website of Link Intime India Private Limited website. Click on this link to get allotment status.
Final Thoughts
Non-Convertible Debentures (NCD) are a better investment option for those who are looking for a diversified portfolio. investing in Muthoot Finance Tranche I NCD April 2023 is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing
