[.]| Listing at BSE | Fri, Sep 1, 2023 - Thu, Sep 14, 2023
Muthoot Fincorp Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹1,100.00 Cr with a base issue size of ₹100.00 Cr and an option to retain oversubscription up to ₹[.] Cr, aggregating to a tranch issue size of ₹[.] Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Muthoot Fincorp Ltd. NCD issue opens on Sep 1, 2023 and closes on Sep 14, 2023. NCD are proposed to be listed on BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 8.65% per annum to 9.44% per annum, depending on the series and tenure selected.
The NCD has been rated: .
SMC Capitals Ltd. is the Lead Manager to the issue, Vardhman Trusteeship Pvt.Ltd. is the Debenture Trustee, and Integrated Registry Management Services Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document and Shelf Prospectus for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Fri, Sep 1, 2023
Close Date
Thu, Sep 14, 2023
Issue Size (Overall)
[.]
Muthoot Fincorp Limited NCD Coupon Rates
| # | 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 | Annual | Annual | Annual | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 96 Months |
| Coupon (% per Annum) | 8.65% | 8.90% | 9.05% | 9.00% | 9.27% | 9.44% | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 8.99% | 9.26% | 9.43% | 8.99% | 9.26% | 9.43% | 8.99% | 9.26% | 9.43% | 9.05% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,188.00 | Rs 1,305.00 | Rs 1,570.00 | Rs 2,001.00 |
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 26,284.54 | 28,422.34 | 32,134.61 |
| Revenue | 4,101.19 | 4,355.13 | 5,151.33 |
| Profit After Tax | 397.28 | 412.55 | 646.42 |
| Net Worth | 3,034.70 | 3,731.16 | 4,257.18 |
| Reserves and Surplus | |||
| Total Borrowing |
Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 5.00% | 50,000 |
| Non-Institutional | 35.00% | 3,50,000 |
| Retail | 60.00% | 6,00,000 |
| Total | 100.00% | 10,00,000 |
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 the short-term liquidity requirements of individuals.
The Gold loan portfolio of the company as of June 30, 2023, comprised approximately 31 lakhs of loan accounts.
As of June 30, 2023, the company operated out of 3,619 branches located across 24 states, including the union territory of Andaman and Nicobar Islands and the national capital territory of Delhi, and employed 19,008 employees including 110 contracted experts in its operations.
Some of the Gold Loan products offered by the company are:
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:
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
[Dilip Davda] Its coupon rates are hiked with an AA- (minus) rating by CRISIL in line with ongoing trends. The company has been gaining ground with diverse activities. Well-informed/Cash surplus Investors looking for a steady regular return may consider parking moderate funds. Read detail review...
The Muthoot Fincorp NCD Sep Tranche I 2023 was subscribed 2.92 times on Sep 14, 2023 17:00. The NCD subscribed 3.91 times in Retail, 1.63 times in Non-Institutional, and 0.01 times in Institutional category.
Muthoot Fincorp Ltd.
Muthoot Centre,
TC No 27/3022 Punnen Road
Trivandrum 695 001, Kerala
Eral, Tamil Nadu, 695001
Integrated Registry Management Services Pvt.Ltd.
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Muthoot Fincorp Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
