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Muthoot Finance Ltd NCD (Muthoot Finance NCD Aug 2011) Detail

August 23, 2011 - September 5, 2011
Muthoot Finance Ltd Logo

Muthoot Finance Ltd is the largest gold financing company in India in terms of loan portfolio. They provide personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.

Company's Gold Loan portfolio as of March 31, 2011 comprised approximately 4.7 million loan accounts in India that they serviced through 2,733 branches across 20 states, the national capital territory of Delhi and four union territories in India. They have since increased their branch network to 2,997 branches as of June 30, 2011. As of June 30, 2011, they employed 19,125 persons in operations. Muthoot headquartered in the southern Indian state of Kerala.

Options

Option 1: The maturity date is 24 months from the date of allotment and the coupon rate is 11.75 per cent per annum.

Option 2: The maturity date is 36 months and the coupon rate is 12 per cent.

Option 3: The maturity date is 60 months and the coupon rate is 12 per cent. There are three investment categories under each option and the effective yield will vary from 11.75 per cent to 12.25 per cent.

Muthoot Finance NCD Aug 2011 Detail

Issue Open August 23, 2011 - September 5, 2011
Security Name Muthoot Finance Ltd
Security Type
Issue Size (Base) Rs 500.00 Crores
Issue Size (Shelf) Rs [.] Crores
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 5 NCD
Market Lot 1 NCD
Listing At BSE, NSE
Credit Rating
Tenor
Series
Payment Frequency
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Category 1 0%
Category 2 0%
Category 3 0%

Objects of the Issue

The funds raised through this issue will be utilised for various financing activities including lending and investments, to repay existing liabilities and to meet working capital requirements.

The NCDs have been rated AA-/stable by CRISIL and AA-(stable) by ICRA. Listing of Secured Redeemable Non-Convertible Debentures of Muthoot Finance Limited Date: September 16, 2011 NSE today issued a notice for the list of Muthoot Finance Limited NCD's on September 20, 2011. Download the circular at http://www.nseindia.com/content/circulars/cmls18897.zip

Muthoot Finance NCD Aug 2011 Prospectus

Muthoot Finance NCD Aug 2011 Rating

25
3.6
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Company Contact Information

Muthoot Finance Ltd
Muthoot Chambers,
Opp Saritha Theatre Complex, 2nd Floor,
Banerji Road, Kochi 682 018, India

Phone: (91 484) 239 4712
Email: ncd@muthootfinance.com
Website: http://www.muthootfinance.com

Muthoot Finance NCD Aug 2011 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: mfl.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html


60 Comments

20. ankm     Link|September 14, 2011 4:10:36 PM
if you are getting 14% yield on a investment for 2 years (at ending mkt prices). wheere's the hue & cry. Time to buy.
19. ankm     Link|September 14, 2011 3:59:19 PM
hi coolboy, My 14.09% calculation was based on price of 980, which was ruling in the morning (it increased thereon to 1000 though!!!). Formula was simple: =+(1132.25/980)^(365/400)-1, cg tax rate of 10% to get 12.68%
18. Kumar Gaurav     Link|September 14, 2011 3:37:12 PM
Mannapuram Finance.
Why do you think so? NCD are not equity stocks to give u listing gains? NCD are to be help till maturity for retail investors like us.
17. PSR     Link|September 14, 2011 2:49:10 PM

Allotment next week
Listing would be last week of the month
16. Cool Boy     Link|September 14, 2011 11:46:57 AM
Not sure how you are getting 14.1%. It's been trading at around 994 with very low volume (only about 285 bonds) and if you add brokerage (on avg Rs 5-7), it's almost on par.
15. ankm     Link|September 14, 2011 9:56:42 AM
MFL 400 day giving you yield of 14.1% pre tax and 12.7% post tax (considering 10% CG tax). 400 day is riskless.
14. SAN   I Like It. 1|  Link|September 14, 2011 6:36:53 AM
What is difference in Bond and NCD?
13. ankm     Link|September 12, 2011 10:04:53 AM
ya manappuram interest credit today morning in bank a/c
12. CHACHA     Link|September 11, 2011 4:21:06 PM
NO ALLOTMENT STATUS ON LINK
11. CHACHA     Link|September 11, 2011 10:08:11 AM
DEAR NAGRAJAM JI NO LISTING GAIN ON MUTHOOT SO WHY ARE U WORRY ABOUT ALLOTMENT, LISTING AND PREMIUM... SABHI NCD ME PUBLIC KA PAISA BLOCK HOTA JATA HAI
10. NIFTY FIFTY     Link|September 10, 2011 4:40:45 PM
i think interest, you may get by cheque/dd
9. ankm     Link|September 10, 2011 12:04:29 PM
bonds alloted, but i hvnt got interest credited.
8. jit kumar     Link|September 10, 2011 9:05:58 AM
if yoy got bond then how much interest you got, interest have to credited prior credit of bond in demat a/c.
7. ankm     Link|September 9, 2011 4:28:58 PM
what happended to manappuram allotment
6. gupta     Link|September 8, 2011 4:11:25 PM
manappuram ncd allotment will be done today(8/9/11)evening,as per Registrar.
5. ankm   I Like It. 1|  Link|September 8, 2011 1:56:12 PM
what about manappuram?
4. a nagraj   I Like It. 2|  Link|September 8, 2011 10:11:36 AM
allotment may be after 16-09-2-11
3. shafin rupani   I Like It. 6|  Link|September 6, 2011 11:18:15 AM
This bond will list @ rs 1020.........confirm news
2. P Badala     Link|September 6, 2011 11:07:28 AM
320Ashish furia
It is correct that in the market there are different bond which will give you return more than 13% In the list of STFC there is bond known as double bond which on maturity will give you Rs 1000+R1000 The maturity date is 01/12/2016. When same was mention by me some one had commented that it is unsecured bond .It is correct that this is unsecured bond, but one must know following facts :
The STFC came out a public issue in june 2010 the issue size was Rs 250 cror plus permission to retain the over subscription of Rs 250 cror .Total Rs 500 cror was the issue size divided into the 5 different option and further each option divided into three category. Out of 5 option three option were secured one and two option were unsecured one. For two unsecured option one Rs 200cror were reserved. The issue was oversubscribed on first day and this particular option was subscribed by mostly HNIS and companies. The STFC is one of the oldest NBFC and having more than 25 years of track record ,The promoters are known as TATAs of south and balance sheet of STFC is of the order of Rs 30000(thirty thousand cror). Now in this situation if some one thinks that STFC will default on Rs 200 cror NCDs because these are unsecured is unsound thinking. It is also important to know that the unsecured portion of NCDs was rated by CARE as AA and By CRISIL as AA/Stable. It also relevant that STFC is one of the strongest candidate for new banking license .One can also draw the comfort from the fact that STFC is part of MSCI.The only problem is long wafting period and poor liquidity because these bond are held by strong hands. During last one year the trading volume has hardly on few days had touched four figure mark on NSE and three figure mark on BSE If one is willing to wait for five years then at present current prize 1070-1080 It will give yield more than 13% .

1. SAN   I Like It. 2|  Link|September 6, 2011 8:42:57 AM
Is allotment status out?

I understand that it closed yesterday already.

Happy Investing

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