Muthoot Fincorp Ltd NCD (Muthoot Fincorp NCD June 2020) Detail

Jun 29, 2020 - Jul 13, 2020

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:

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

For FY2019, FY2018 and FY2017, the revenue from the Gold loan was 82.86 %, 85.63% and 75.44% respectively of total income on a standalone basis. The company is also engaged in the generation & sale of wind energy and real estate business.

Muthoot Fincorp NCD June 2020 Detail

Issue OpenJun 29, 2020 - Jul 13, 2020
Security NameMuthoot Fincorp Ltd
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)Rs 100.00 Crores
Issue Size (Shelf)Rs 160.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit RatingCRISIL A/ Stable; BWR A +/ Stable
Tenor24 months/ 38 months/ 60 months
Series

Series I to Series IX

Payment FrequencyMonthly, Annual and Cumulative
Basis of AllotmentFirst Come First Serve Basis

NCD Allocation Ratio

NCD's allocated in each investor category:

Category ?NCD's Allocated
Category 1 (QIB)0%
Category 2 (NII)0%
Category 3 (HNI)0%
Category 4 (RII)0%

NCD's Offered

NCD's offered in each investor category:

Category ?NCD's Reserved
Category 1 (QIB)50,000
Category 2 (NII)250,000
Category 3 (HNI)700,000
Category 4 (RII)0
Total NCD's1,000,000

Coupon Rates

Coupon Rates for Eash Series

  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8 Series 9
Frequency of Interest Payment Monthly Monthly Monthly Annually Annually Annually Cumulative Cumulative Cumulative
Tenor 24 Months 38 Months 60 Months 24 Months 38 Months 60 Months 24 Months 38 Months 60 Months
Coupon Rate (Retail) 9.00% 9.15% 9.25% 9.40% 9.65% 9.75% NA NA NA
Amount on Maturity ₹1,000 ₹1,000 ₹1,000 ₹1,000 ₹1,000 ₹1,000 ₹1,202 ₹1,348 ₹1,611

NCD Rating Detail

The NCDs proposed to be issued under this Issue have been rated "A (Stable)" for an amount of ₹50,000 lakhs by CRISIL Limited ("CRISIL") vide their letter dated October 10, 2019 and further revalidated by their letters dated December 26, 2019, March 9, 2020 and June 10, 2020, and rated "BWR A +" (Outlook: Stable)' for an amount of ₹50,000 lakhs, by Brickwork Ratings India Pvt. Ltd. ("Brickworks") vide their letter dated December 12, 2019 and further revalidated by their letter dated March 11, 2020 and June 15, 2020. The rating of CRISIL A (Stable) by CRISIL and BWR A+ (Stable) 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.

Company Promoters

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

Objects of the Issue:

The following objects are 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

Muthoot Fincorp NCD June 2020 Prospectus

Muthoot Fincorp NCD June 2020 Rating

33
3.8
Rating:Rated 3.8 stars

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Muthoot Fincorp NCD June 2020 Reviews

Company Contact Information

Muthoot Fincorp Ltd
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/

Muthoot Fincorp NCD June 2020 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 June 2020 Lead Manager(s)

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3 Comments

No trade
3. No trade  Aug 6, 2020 16:33 I Like It. | I Don't Like It. | Report Abuse Reply
Good Coupon rate.

So heavy demand

Overscribed
KARTHIKEYAN SOMASUNDARAM
2. KARTHIKEYAN SOMASUNDARAM  Jul 10, 2020 18:17 I Like It. 2 | I Don't Like It. 1 | Report Abuse Reply
Due to high demand, the NCD got oversubscribed within 5 days. The issue got closed 1st June itself.
Navkant
2.4. Navkant  Jul 13, 2020 18:40 I Like It. 1 | I Don't Like It. 4 | Report Abuse
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Hello. There is a 160Cr shelf beyond the 100Cr issue. So, the subscription can go till 2.6X and yet everyone will get an allotment.
Navkant
2.5. Navkant  Jul 19, 2020 10:31 I Like It. 1 | I Don't Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Had applied on the last day. Wrongly assumed 160Cr shelf while it was 60Cr. Yet somehow managed to get full allotment.
KARTHIKEYAN SOMASUNDARAM
1. KARTHIKEYAN SOMASUNDARAM  Jul 10, 2020 10:00 I Like It. 6 | I Don't Like It. | Report Abuse Reply
Issue closing Monday 13th July








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