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Muthoot Finance Limited NCD (Muthoot Finance NCD Dec 2011) Detail

Dec 22, 2011 - Jan 7, 2012
Muthoot Finance Limited Logo

Incorporated in 1997, Muthoot Finance Ltd is the Kerala - based largest gold financing company in India in terms of loan portfolio. Muthoot Finance provides personal and business loans secured by gold jewellery, or Gold Loans. They have 1605 branches across 20 states and two union territories in India.

Customers of Muthoot Finance are typically small businessmen, vendors, traders, farmers and salaried individuals. They provide retail loan products, primarily comprising Gold Loans. They also disburse other loans, including those secured by Muthoot Gold Bonds. Their Gold Loans have a maximum 12 month term. Other then Gold Loans business, they provide money transfer services through their branches as sub-agents of various registered money transfer agencies. Company also operates three windmills in the state of Tamil Nadu.

Muthoot Finance is coming up with a public issue of Secured Non-Convertible Debentures of face value of Rs. 1,000 each, (NCDs), aggregating upto Rs. 300 Crores with an option to retain over-subscription upto Rs. 300 Crores for issuance of additional NCDs aggregating to a total of upto Rs. 600 Crores.

Public issue of Muthoot Finance NCD will remain open from Dec 22, 2011 to Jan 07, 2012. Minimum order quantity for Muthoot NCD is 5 NCDs (Rs 5000) and after that in multiples of 1 NCD (Rs 1000).

The NCD is available for 4 tenors - 24 months, 36 months, 60 months and 66 months. The coupon rate for this NCD is fixed at 13.00% to 13.43% based on the tenors of the NCD. Redemption amount will be repayment of the Face Value plus any interest that may have accrued at the Redemption Date.

The Issue is rated by CRISIL and ICRA with AA-/Stable rating. ICICI Securities Limited, A.K. Capital Services Limited HDFC Bank Limited and Karvy Investor Services Limited are the Lead Managers for this issue.

Muthoot Finance NCD Dec 2011 Detail

Issue Open Dec 22, 2011 - Jan 7, 2012
Security Name Muthoot Finance Limited
Security Type
Issue Size (Base) Rs 300.00 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
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%
Category 4 0%

Company Promoters

The following individuals are the Promoters of the Company:

1. M.G. George Muthoot;
2. George Thomas Muthoot;
3. George Jacob Muthoot; and
4. George Alexander Muthoot

Company Financials

ParticularsFor the year/period ended (in Rs. Millions)
31-Mar-1131-Mar-1031-Mar-0931-Mar-0831-Mar-0731-Mar-06
Total Income22,983.0010,775.006,204.023,686.382,339.651,480.62
Profit After Tax (PAT)4,942.002,275.75977.20635.97439.79271.27

Objects of the Issue

The funds raised through this NCD will be utilised for various financing activities including:

1. Lending and investments,
2. To repay existing liabilities or loans and
3. Towards business operations including for capital expenditure and working capital requirements, after meeting the expenditures of and related to the Issue.

Muthoot Finance NCD Dec 2011 Prospectus

Muthoot Finance NCD Dec 2011 Rating

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Company Contact Information

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

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

Muthoot Finance NCD Dec 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/


66 Comments

46. P Badala     Link|Apr 4, 2012 10:26:09 PM
@518 KT IN past(OCT 11) at sr no 393 I have recommended two bonds of Shri ram transport company N3 and NF which are very promising.
45. gundu anna     Link|Apr 4, 2012 8:21:23 AM
good, atleast u have recieved the reply. I have not even recieved the one, so u r lucky....
44. gundu anna     Link|Apr 3, 2012 9:10:18 PM
One can hold REC tax free bonds. donds are not for trading, it should be held till maturity.... and not for listing gains. Listing is done only to provide liquidity if one badly back needs money in some urgant situations.... so choice urs guys..........
43. gundu anna     Link|Mar 30, 2012 7:34:46 PM
dont appply it is risky, you may not get interst plus pricipal!!!
42. ashish furia     Link|Mar 28, 2012 2:04:07 AM
India Infoline Investment Services Limited (IIISL-N4) is available at 14.5% yield at a price of 920/-

41. R J     Link|Mar 27, 2012 4:57:28 PM
Dear ashish,

Rate is ex-interest as of 01.04.2012.

Next interest payment on these NCD will be on 1.4.2013. Hence effective rate of return is much lower :

10.50% on NC & 10.25% on ND - means about 11.11% and 10.94% respectively and not 19%
40. kt     Link|Mar 26, 2012 7:20:27 PM
can anyone tell when muthhot wll gv intrest for their bonds/ncd
39. Ash Shardy     Link|Mar 26, 2012 1:00:12 AM
Ashish... How did you come at these yields? can you elaborate?
regards
38. harishkumar     Link|Mar 24, 2012 8:53:32 PM
IF OPERATORS CAN LIST HUDCO AT 970 AND THEY BREAK DOWN TO 939, THEY CAN BREAK DOWN REC TO 900 TOO. IN INDIA, NO REGULATORY AUTHORITIES ARE THERE?
NO BODY TAKES CARE OF INNOCENT INVESTORS. HUDCO LIKE COMPANY DEBENTURES ARE AVAILABLE AT 6 % DISCOUNT. TAXFREE INTEREST OF 8.35 CAN BE 12.03% . AT THE RATE OF 961,IT BECOMES 8.53% TAXFREE.
8.53 % TAXFREE IS 12.29% TAXABLE INT. FOR HIGHEST TAX PAYERS.
37. vas nat     Link|Mar 22, 2012 9:39:12 PM
REC bonds should trade Rs.15 lower than PFC tax free bonds (excluding interest accumulated component) on a comparitive YTM basis.

If PFC trades @ 1010 then REC should list @ 995 (minus interest component) so may be Rs.990/-. So those who have applied for listing gains can write to Registrar for refund.
36. gundu anna     Link|Mar 22, 2012 7:30:56 PM
Dont buy. it is trading at discount due to possible Default risk.
35. gundu anna     Link|Mar 21, 2012 8:36:47 PM
In GENERAL BONDS ARE NOT FOR LISTING GAINS AND TRADING. IT SHOULD BE IN ONES PORTFOLIO AND SHOULD BE HELD IN PORTFOLIO TILL MATURITY
34. harishkumar     Link|Mar 20, 2012 3:40:35 PM
QIB AND HNI SUBSCRIBED REC BOND 2/3 TIMES. VERY GOOD SUBSCRIPTION WAS THERE ON FIRST DAY. BUT AFTER HUDCO LISTING, IS THERE ANY POSSIBILITY OF PREMIUM? IN LAST 5 YEARS HUDCO HAS SHOWN PROFIT AND PROFIT. AA+ RATING IS ALSO VERY GOOD.TO MY OPENION, MALFUNCTION CAN ONLY BE RESPONSIBLE AFTER DISCOUNT RATES.THERE IS NO PROBLEM OF SAFETY OR NON PAYMENT OF INTEREST/CAPITAL. TAX BENEFIT FOR 15 YEARS IS THERE. RATE OF INTEREST IS ALSO GOOD. 9.95% TAXABLE INTEREST SBI BOND IS STILL QUOTED AT PREMIUM.
33. gundu anna     Link|Mar 20, 2012 2:02:31 PM
Big loss for retail investors in hudco bond on 5 lakh application
32. Ash Shardy     Link|Mar 19, 2012 5:12:25 PM
Do not regret not buying HUDCO .... you can get it from secondary market at a lower price and better interest rate ... say you get it @ Rs 975 ... you get higher interest rate with lower price as well as Rs 25 benefit when the bonds mature ...what Dr Harsh working in Accenture says loudly is correct to a certain extent ... for people looking for listing gains on this.... they will list at discount ... take the example of IRFC ...
31. arun adalja     Link|Mar 10, 2012 9:51:46 AM
hudco bonds not received in demat account karvy fellows are very slow.
30. P Badala     Link|Mar 7, 2012 9:52:54 PM
@Vishal Investment
You have sold the secureity( IRFC Bonds) which was not in your DEMAT account,though Karvy may have made mistake in alloting you(IRFC Bonds) of different option But before selling it is the duty of invester to check and satisfy himself that what security he is selling for which he has delievery,Mistake made by Karvy does not give you privelase to sale the security which not held by you and therefor consiquences of your mistake have to be borne by you.
29. Dagattani     Link|Mar 7, 2012 1:11:11 PM
sir.. pls give me a link whr i can read and learn on how to apply for bonds.. i regularly invest in IPOs...but want to make some money in fixed income instrument listings as well.. so if u can pls . i wud b grateful...
28. RAHUL RAJDAAR     Link|Mar 7, 2012 10:03:23 AM
@ VIHAL INVESTMENT
Sir,
aapne IRFC ke jo bond beche hai. aapko bechne se pehle hi pata karna chahiye tha ki aapki allotment kis opt. ki aayi hai.
aapko bechne se pehle hi karvi se contect karna chahiye tha.
27. Ash Shardy     Link|Mar 6, 2012 12:11:44 PM
I applied in the issue (not for listing gains)