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Incorporated in 1997, Muthoot Fincorp Limited is a non-deposit taking NBFC. The company is primarily engaged in the business of offering personal and business loans which are secured by gold ornaments and jewellery. The gold loan product is available for personal and business purposes to meet short-term liquidity requirements of the individuals.
Some of the Gold Loan products offered by the company are:
For FY2019, FY2018 and FY2017, the revenue from the Gold loan was 82.86 %, 85.63% and 75.77% respectively of total income on a standalone basis. The company is also engaged in the generation & sale of wind energy and real estate business.
| Issue Open | September 20, 2019 - October 18, 2019 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 250.00 Crores |
| Issue Size (Shelf) | Rs 250.00 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 | BWR A+/ Stable by Brickworks |
| Tenor | 400 days/24 months/36 months |
| Series | Series I to Series VIII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 10% |
| Category 2 | 40% |
| Category 3 | 50% |
| Category |
NCD's Reserved |
|---|---|
| Category 1 | 250,000 |
| Category 2 | 1,000,000 |
| Category 3 | 1,250,000 |
| Category 4 | 0 |
| Total NCD's | 2,500,000 |
|
Terms and conditions in connection with Secured NCDs****Series |
I |
II |
III |
IV |
V |
VI |
VII |
VIII |
|
Frequency of Interest Payment |
Monthly |
Monthly |
Monthly |
Annual |
Annual |
Cumulative |
Cumulative |
Cumulative |
|
Minimum Application |
Rs 10,000 (10 NCDs) |
|||||||
|
In multiples of thereafter |
Rs 1,000 (1 NCD) |
|||||||
|
Face Value of Secured NCDs (Rs / NCD) |
Rs 1,000 |
|||||||
|
Issue Price (Rs / NCD) |
Rs 1,000 |
|||||||
|
Tenor from Deemed Date of Allotment |
400 days |
24 months |
36 months |
24 months |
36 months |
400 days |
24 months |
36 months |
|
Coupon Rate (% per annum) |
9% |
9.25% |
9.50% |
9.50% |
10% |
9.25% |
9.5% |
10% |
|
Effective Yield (Per annum) |
9.38% |
9.65% |
9.92% |
9.50% |
10% |
9.30% |
9.95% |
11.03% |
|
Mode of Interest Payment |
Through various options available |
|||||||
|
Redemption Amount (Rs / NCD**** |
Rs 1,000 |
Rs 1,000 |
Rs 1,000 |
Rs 1,000 |
Rs 1,000 |
Rs 1,102 |
Rs 1,199 |
Rs 1,331 |
|
Nature of indebtedness |
Secured rated listed non-convertible debentures |
|||||||
|
Put and Call Options |
N.A. |
N.A. |
N.A. |
N.A. |
N.A. |
N.A. |
N.A. |
N.A. |
| Deemed Date of Allotment | The date on which the Board or the Debenture Committee approves the Allotment of NCDs. All benefits relating to the NCDs including interest on the NCDs shall be available to the Investors from the Deemed Date of Allotment. The actual Allotment of NCDs may take place on a date other than the Deemed Date of Allotment | |||||||
The NCDs proposed to be issued under this Issue have been rated "BWR A+" (BWR A plus; Outlook: Stable)' for an amount of Rs 50,000 lakhs , by Brickwork Ratings India Private Limited ("Brickworks") vide their letter dated August 23, 2019. The rating of BWR A+ by Brickworks indicate that instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations and carry lowest credit risk.
Thomas John Muthoot, Thomas George Muthoot and Thomas Muthoot are the promoters of the company.
The following table details the objects of the Issue and the amount proposed to be financed from the Net Proceeds:
1. Working capital purpose and for repayment of interest and principal of existing loans
2. General corporate purposes
The Muthoot Fincorp Limited NCD Sept 2019 was subscribed 1.86 times on October 18, 2019 5:00:00 PM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 3 | 2.45x |
| Category 2 (NII) | 1.60x |
| Category 1 (QIB) | 0.00x |
| Total | 1.86x |
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Muthoot Fincorp Limited
Muthoot Centre,
TC No 14/2074-7 Punnen Road Trivandrum - 695 039,
Kerala, India
Phone: +91 471 491 1550
Email: cs@muthootfincorp.com
Website: https://www.muthootfincorp.com/
Integrated Registry Management Services Private Limited
2 nd Floor,
Ramakrishna Street, North Usman Road,
T. Nagar, Chennai - 600 017
Phone: + 91 44 2814 0801 to 803
Email: mfinipo@integratedindia.in
Website: https://www.integratedindia.in/corporate-container.aspx?cpi
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