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Muthoot Fincorp Limited NCD (Muthoot Fincorp NCD April 2023) Detail

Apr 12, 2023 - Apr 26, 2023
Muthoot Fincorp Limited Logo

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 jewelry. The gold loan product is available for personal and business purposes to meet the short-term liquidity requirements of individuals.

The Gold loan portfolio of the company as of December 31, 2022, comprised approximately 32.89 lakhs of loan accounts.

As of December 31, 2022, the company operated out of 3,627 branches located across 24 states, including the union territory of Andaman and Nicobar Islands and the national capital territory of Delhi, and employed 15,079 employees including 168 contracted experts in its operations.

Some of the Gold Loan products offered by the company are:

  1. Muthoot Blue Guide Gold loan
  2. Muthoot Blue Bright Gold loan
  3. Muthoot Blue Power Gold loan
  4. Muthoot Blue Bigg Gold loan
  5. Muthoot Blue Smart Gold loan
  6. 24x7 Express Gold loan

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. Muthoot Fincorp is also engaged in the following business:

  1. Generation and sale of wind energy through its wind farms located in Tamil Nadu; and
  2. Real estate business through joint venture developers of the company-owned land parcels.

Muthoot Fincorp NCD April 2023 Detail

Issue Open Apr 12, 2023 - Apr 26, 2023
Security Name Muthoot Fincorp Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 150.00 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 CRISIL AA-/Stable by CRISIL Ratings Limited
Tenor 27, 42, 60 and 84 Months
Series

Series I to VIII

Payment Frequency Monthly, Annual and Cumulative
Basis of Allotment First Come First Serve Basis
Debenture TrustiesVardhman 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 75,000
Non-Institutional 525,000
Retail 900,000
Category 4 0
Total NCD's 1,500,000

Muthoot Fincorp Limited NCD Coupon Rates

#Series 1Series 2Series 3Series 4Series 5Series 6Series 7Series 8
Frequency of Interest PaymentMonthlyMonthlyMonthlyMonthlyAnnualCumulativeCumulativeCumulative
NatureSecuredSecuredSecuredSecuredSecuredSecuredSecuredSecured
Tenor27 Months42 Months60 Months84 Months60 Months27 Months42 Months84 Months
Coupon (% per Annum)8.40%8.65%8.80%9.00%9.15%NANANA
Effective Yield (% per Annum)8.71%9.00%9.15%9.37%9.15%8.71%9.00%9.37%
Amount on Maturity (In Rs.)Rs 1,000.00Rs 1,000.00Rs 1,000.00Rs 1,000.00Rs 1,000.00Rs 1,207.00Rs 1,353.00Rs 1,873.00

NCD Rating

The company has received rating of CRISIL AA-/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.

Company Promoters

Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.

Company Financials

Muthoot Fincorp Limited Financial Information (Restated Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After Tax
31-Mar-2021,241.813,765.99257.93
31-Mar-2126,284.544,101.19397.28
31-Mar-2228,422.344,355.13412.55
Amount in ₹ Crore

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

Muthoot Fincorp NCD April 2023 Prospectus

Muthoot Fincorp NCD April 2023 Subscription Status

The Muthoot Fincorp NCD April 2023 was subscribed 1.58 times on Apr 26, 2023 1:00:00 AM. The NCD subscribed 2.17 times in Retail, 0.80 times in Non-Institutional, and 0.04 times in the Institutional category.

Category ?Subscription (times)
Retail2.17x
Non-Institutional0.80x
Institutional0.04x
Total1.58x

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Muthoot Fincorp NCD April 2023 Rating

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Company Contact Information

Muthoot Fincorp Limited
Muthoot Centre,
TC No 27/3022 Punnen Road
Trivandrum 695 001, Kerala

Phone: +91 471 491 1550
Email:
Website: http://www.muthootfincorp.com

Muthoot Fincorp NCD April 2023 Registrar

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: http://www.integratedindia.in/

Muthoot Fincorp NCD April 2023 Lead Manager(s)


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