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Muthoot Vehicle & Asset Fin Ltd NCD (Muthoot Vehicle NCD Feb 2020) Detail

Feb 25, 2020 - Mar 11, 2020
Muthoot Vehicle & Asset Fin Ltd Logo

Incorporated in 1998, Muthoot Vehicle & Asset Fin Ltd is a deposit-taking vehicle and asset finance company. The company operates mainly in the State of Kerala and an RBI registered NBFC-ICC (Investment and Credit Company).

Muthoot Vehicle is in the business of providing loans against the security of vehicles and assets in Kerala and Tamil Nadu. It has 25 branches and holds a license to operate in Kerala, Delhi, Coimbatore, and Bangalore.

As on 30th Sep 2019, the total assets under management of the company were Rs 44,104.01 lakhs and the retail lending portfolio size was Rs 5 lakhs. Muthoot Vehicle & Asset Finance Ltd has 11,665 customers in retails lending.

Muthoot Vehicle NCD Feb 2020 Detail

Issue Open Feb 25, 2020 - Mar 11, 2020
Security Name Muthoot Vehicle & Asset Fin Ltd
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 100.00 Crores
Issue Size (Shelf) Rs 200.00 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 A/ Stable; CARE BBB+/ Stable
Tenor 24 months/ 38 months/ 60 months/ 90 months
Series

Series 1 to Series 10

Payment Frequency Monthly, Annual and Cumulative
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Category 1 10%
Category 2 40%
Category 3 50%
Category 4 0%

NCD's Offered by Category

Category ? NCD's Reserved
Category 1 100,000
Category 2 400,000
Category 3 500,000
Category 4 0
Total NCD's 1,000,000

Coupon rates for series 1 to 10

  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 Annually Annually Annually Cumulative Cumulative Cumulative Cumulative
Nature Secured
Tenor 24 months 38 months 60 months 24 months 38 months 60 months 24 months 38 months 60 months 90 months
Coupon Rate 9.25% 9.50% 9.75% 9.50% 9.75% 10% NA NA NA NA
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,193.56 Rs 1,333.72 Rs 1,592.29 Rs 2,000

NCD Rating

The Secured NCDs proposed to be issued under this Issue have been rated CRISIL A/Stable by CRISIL vide its letter dated January 17, 2020. Additionally, the Secured NCDs had also been rated CARE BBB+; Stable by CARE vide its letters dated August 30, 2019, which was revalidated on December 9, 2019. This rating, though, was withdrawn by CARE pursuant to letter dated January 24, 2020 at the request of our Company.

Company Promoters

M.G. George Muthoot, George Thomas Muthoot, George Jacob Muthoot and George Alexander Muthoot are the promoters of the company.

Objects of the Issue

The company proposes to utilise the funds which are being raised through the Issue, after deducting the Issue
related expenses to the extent payable by the Company (Net Proceeds), estimated to be approximately Rs
19,800.00 lakhs, towards funding the following objects:

1. Onward lending and for repayment of interest and principal of existing loans; and
2. General Corporate Purposes

Muthoot Vehicle NCD Feb 2020 Prospectus

Muthoot Vehicle NCD Feb 2020 Subscription Status

The Muthoot Vehicle NCD Feb 2020 was subscribed 2.41 times on Mar 11, 2020 1:00:00 PM. The NCD subscribed .

Category ?Subscription (times)
Category 32.11x
Category 2 (NII)3.39x
Category 1 (QIB)0.00x
Total2.41x

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Muthoot Vehicle NCD Feb 2020 Rating

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Company Contact Information

Muthoot Vehicle & Asset Fin Ltd
5th and 6th Floor Midhun Tower,
K P Vallon Road, Kadavanthra,
Ernakulam - 682020, Kerala, India

Phone: 91 75938 64404
Email: cs@mvafl.com
Website: https://www.mvafl.com/

Muthoot Vehicle NCD Feb 2020 Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270
Email: mvafl.ncd2019@linkintime.co.in
Website: https://linkintime.co.in/

Muthoot Vehicle NCD Feb 2020 Lead Manager(s)