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Incorporated in 1997, Muthoot Fincorp Limited is a non-deposit-taking NBFC. The company primarily offers personal and business loans 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 company's gold loan portfolio comprised approximately 31.68 lakhs of loan accounts as of September 30, 2023.
As on September 30, 2023, the Company had 3,619 branches across 24 states, including the Union Territory of Andaman and Nicobar Islands and the National Capital Territory of Delhi, and employed 20,507 people, including 91 contracted experts, in its operations.
The company offers the following gold loan products, among others:
Muthoot Blue Guide Gold Loans
Muthoot Blue Bright Gold Loan
Muthoot Blue Power Gold Loan
Muthoot Blue Bigg Gold Loan
Muthoot Blue Smart Gold Loan 24x7 Express Gold Loan
Apart from gold loans, the company also offers foreign exchange and money transfer services as a sub-agent of various registered money transfer agents. Muthoot Fincorp also operates in the following business segments:
Generation and sale of wind energy through its wind farms in Tamil Nadu; and real estate business through joint venture developers of the company's own properties.
| Issue Open | April 10, 2024 - April 25, 2024 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 260.00 Crores |
| Tranche Issue Size | Rs 360.00 Crores |
| Issue Size (Shelf) | Rs 1,100.00 Crores |
| Tranche Number | IV |
| 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 | 26, 38, 60, 72, and 94 Months |
| Series | Series I to XIII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 35% |
| Retail | 60% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 50,000 |
| Non-Institutional | 350,000 |
| Retail | 600,000 |
| Category 4 | 0 |
| Total NCD's | 1,000,000 |
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 | Series 11 | Series 12 | Series 13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Annual | Annual | Annual | Annual | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 26 Months | 38 Months | 60 Months | 72 Months | 26 Months | 38 Months | 60 Months | 72 Months | 26 Months | 38 Months | 60 Months | 72 Months | 94 Months |
| Coupon (% per Annum) | 8.90% | 9.15% | 9.35% | 9.55% | 9.25% | 9.50% | 9.75% | 10.00% | NA | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 9.26% | 9.54% | 9.75% | 9.97% | 9.27% | 9.52% | 9.74% | 10.00% | 9.27% | 9.52% | 9.74% | 10.00% | 9.25% |
| 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 1,000.00 | Rs 1,000.00 | Rs 1,212.00 | Rs 1,334.00 | Rs 1,592.00 | Rs 1,772.00 | Rs 2,000.00 |
The NCDs proposed to be issued under this Issue have been rated CRISIL AA-/Stable by CRISIL Ratings Limited.
Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.
Muthoot Fincorp Limited's revenue increased by 18.28% and profit after tax (PAT) rose by 56.69% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 32,134.61 | 28,422.47 |
| Revenue | 5,151.33 | 4,355.13 |
| Profit After Tax | 646.42 | 412.55 |
| Net Worth | 4,257.18 | 3,731.16 |
| Reserves and Surplus | 3,481.27 | 2,958.70 |
| Amount in ₹ Crore | ||
The Net Proceeds raised through the Tranche III Issue will be utilised for the following activities in the ratio provided below:
The Muthoot Fincorp NCD Tranche IV April 2024 was subscribed 3.14 times on April 25, 2024 5:00:00 PM. The NCD subscribed 4.00 times in Retail, 2.11 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 4.00x |
| Non-Institutional | 2.11x |
| Institutional | 0.00x |
| Total | 3.14x |
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Muthoot Fincorp Limited
Muthoot Centre,
TC No 27/3022 Punnen Road,
Trivandrum - 695 001
Phone: +91 471 491 1550
Email: ncd@muthootgroup.com
Website: http://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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