[.]| Listing at BSE | Tue, Feb 25, 2020 - Wed, Mar 11, 2020
Muthoot Vehicle & Asset Fin Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹200.00 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 Vehicle & Asset Fin Ltd. NCD issue opens on Feb 25, 2020 and closes on Mar 11, 2020. 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 per annum to per annum, depending on the series and tenure selected.
The NCD has been rated: .
Inga Ventures Pvt.Ltd. is the Lead Manager to the issue, is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Tue, Feb 25, 2020
Close Date
Wed, Mar 11, 2020
Issue Size (Overall)
[.]
| 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 |
M.G. George Muthoot, George Thomas Muthoot, George Jacob Muthoot and George Alexander Muthoot are the promoters of the company.
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.
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
[Dilip Davda] Although vehicle and asset finance sector is poised for growth, and the company is from well known Muthoot group, miniscule performance and the declining bottom line raises concern. Issue is rated on an average. Hence only risk savvy cash surplus investors may consider investment at their own risk. (Other).
The Muthoot Vehicle NCD Feb 2020 was subscribed 2.41 times on Mar 11, 2020 13:00. The NCD subscribed .
Muthoot Vehicle & Asset Fin Ltd.
5th and 6th Floor Midhun Tower,
K P Vallon Road, Kadavanthra,
Ernakulam - 682020, Kerala, India
Ernakulam, Kerala, 682020
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 Vehicle & Asset Fin 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.
