Muthoot Finance Limited NCD (Muthoot Finance NCD Sep 2019) Detail

Sep 27, 2019 - Oct 25, 2019
Muthoot Finance Limited Logo

Muthoot Finance Ltd (MFL) is the largest gold loan NBFC based on the loan portfolio in India. The company provides personal and business loans secured by gold jewellery or Gold Loans to individuals.

Muthoot Finance is a 'Systemically Important Non-deposit taking NBFC' headquartered in the south Indian state of Kerala. In addition to Gold Loans, it provides money transfer services through their branches as sub-agents of various registered money transfer agencies and has commenced providing collection agency services. The company also operate three windmills in the state of Tamil Nadu.

As of December 30, 2018, the company has around 8.05 million loan accounts. It has built a network of 4,422 branches across 23 states, Delhi and the 5 union territories in India. It operates 218 ATMs spread across 17 states. The company employs 24,063 persons in its operations.

Competitive Strengths

1. Pan India reach through wide branch network
2. Strong brand name
3. Robust working mechanism
4. Strong capital raising ability

Edelweiss Financial NCD

Muthoot Finance NCD Sep 2019 Detail

Issue Open Sep 27, 2019 - Oct 25, 2019
Security Name Muthoot Finance Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 100.00 Crores
Issue Size (Shelf) Rs 900.00 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, CRISIL AA/Stable
Tenor 24 months/ 38 months/ 60 months/ 90 months

Series I to Series X

Payment Frequency Monthly and Annual
Basis of Allotment

NCD Allocation Ratio

Category ? NCD's Allocated
Category 1 0%
Category 2 0%
Category 3 0%
Category 4 0%

NCD's Offered by Category

Category ? NCD's Reserved
Category 1 100,000
Category 2 100,000
Category 3 300,000
Category 4 500,000
Total NCD's 1,000,000

Coupon rates for series 1 to 10

  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 Annually Annually Annually NA NA NA NA
Tenor 24 months 38 months 60 months 24 months 38 months 60 months 24 months 38 months 60 months 90 months
Coupon Rate 9.25% 9.50% 9.75% 9.50% 9.75% 10.00% NA NA NA NA
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,193.56 Rs 1,333.72 Rs 1,592.29 Rs 2,000

NCD Rating

The NCDs proposed to be issued under this Issue have been rated [ICRA] AA (Stable) by ICRA for an amount of upto Rs 40,000 million vide its letter dated December 31, 2018 and have been rated CRISIL AA/Stable by CRISIL for an amount upto Rs 40,000 million vide its letter dated January 18, 2019. The rating of the NCDs by ICRA and CRISIL indicates high degree of safety regarding timely servicing of financial obligations.

Company Promoters

M G George Muthoot, George Alexander Muthoot, George Thomas Muthoot, and George Jacob Muthoot are the promoters of the company.

Objects of the Issue

The Net Proceeds raised through this Issue will be utilized for the purpose of-:

1. For the purpose of lending- 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

Muthoot Finance NCD Sep 2019 Prospectus

Muthoot Finance NCD Sep 2019 Rating

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Muthoot Finance NCD Sep 2019 Reviews

Company Contact Information

Muthoot Finance Limited
2nd Floor, Muthoot Chambers,
Opp Saritha Theatre Complex,
Banerji Road, Kochi 682 018, India

Phone: (+91 484) 239 4712

Muthoot Finance NCD Sep 2019 Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270

Muthoot Finance NCD Sep 2019 Lead Manager(s)

Edelweiss Financial NCD