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.
| 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's allocated in each investor category:
Category  | NCD's Allocated |
|---|---|
| Category 1 (QIB) | 10% |
| Category 2 (NII) | 40% |
| Category 3 (HNI) | 50% |
| Category 4 (RII) | 0% |
NCD's offered in each investor category:
| Category | NCD's Reserved |
|---|---|
| Category 1 (QIB) | 100,000 |
| Category 2 (NII) | 400,000 |
| Category 3 (HNI) | 500,000 |
| Category 4 (RII) | 0 |
| Total NCD's | 1,000,000 |
| 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 |
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.
M.G. George Muthoot, George Thomas Muthoot, George Jacob Muthoot and George Alexander Muthoot are the promoters of the company.
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
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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/
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: http://www.linkintime.co.in
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