04-Apr-2024
2 mins read
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Muthoot Fincorp Limited NCD issue will open on Wednesday April 10, 2024 and will close on Thursday, April 25, 2024. It is a Secured, Redeemable, Non-Convertible Debentures. The overall issue size is of Rs 260 crores. Muthoot Fincorp NCD issue price is Rs 1000 per NCD and face value is Rs 1000 each NCD. The minimum lot size is 10 NCD. The basis of allotment is first come and first serve basis. The listing is at BSE (Bombay Stock Exchange) and the tenor is of 26, 38, 60, 72 and 94 months. The lead manager of Muthoot Fincorp Limited NCD is SMC Capitals Limited. The registrar for this NCD is Integrated Registry Management Services Private Limited.
About Muthoot Fincorp Limited Profile
The company is a middle layer NBFC (“NBFC ML”) registered with the RBI, and it is one of the prominent gold loan players in the Indian market. Muthoot Fincorp is a part of the “Muthoot Pappachan Group” which has diversified business interests ranging from hospitality, financial services, inflight catering, infrastructure for information technology, automobile sales and services and real estate. The Gold loan portfolio of the Company as of December 31, 2023 comprised approximately 31.38 lakhs loan accounts. As of December 31, 2023, the Company operated out of 3,683 branches located across 24 states, including union territory of Andaman and Nicobar Islands and the national capital territory of Delhi and employed 20,645 employees including 93 contracted experts in its operations. The company have been engaged in the Gold loans business for over two decades and are headquartered in Kerala, India. The Company provides retail loan products, primarily comprising of Gold loans.
Objectives of the Muthoot Fincorp NCD Issue
The Net Proceeds raised through the Tranche III Issue will be utilised for the purpose of lending - a minimum of 75% of the amount raised and allotted in the Issue and For General Corporate Purposes - shall not exceed 25% of the amount raised and allotted in the Issue.
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Financial Performance of Muthoot Fincorp Limited (In Rs Crore)
Muthoot Fincorp Limited reported a revenue of Rs 36.13 crore and profit after tax of Rs 0.86 crore for the period ending on 31 March 2023. Company’s revenue increased by 25.95% and net profit rose by 11.86% between the FY 22-23.
| Period Ended | 31-Mar-23 | 31-Mar-22 |
| Assets | 32,134.61 | 28,422.47 |
| Revenue | 5,151.33 | 4,355.13 |
| Profit After Tax | 646.42 | 412.55 |
| Net Worth | 4,257.18 | 3,731.16 |
| Reserves and Surplus | 3,481.27 | 2,958.70 |
Important Details of Muthoot Fincorp Limited NCD 2024
| Issue Open | April 10, 2024 - April 25, 2024 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 260.00 Crores |
| Tranche Issue Size | Rs 360.00 Crores |
| Issue Size (Shelf) | Rs 1,100.00 Crores |
| Tranche Number | IV |
| 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 AA-/Stable |
| Tenor | 26, 38, 60, 72, and 94 Months |
| Series | Series I to XIII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
Coupon Rates of Muthoot Fincorp Limited NCD 2024
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 | Series 12 | Series 13 |
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Annual | Annual | Annual | Annual | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 26 Months | 38 Months | 60 Months | 72 Months | 26 Months | 38 Months | 60 Months | 72 Months | 26 Months | 38 Months | 60 Months | 72 Months | 94 Months |
| Coupon (% per Annum) | 8.90% | 9.15% | 9.35% | 9.55% | 9.25% | 9.50% | 9.75% | 10.00% | NA | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 9.26% | 9.54% | 9.75% | 9.97% | 9.27% | 9.52% | 9.74% | 10.00% | 9.27% | 9.52% | 9.74% | 10.00% | 9.25% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,212 | Rs 1,334 | Rs 1,592 | Rs 1,772 | Rs 2,000 |
NCD Rating
The NCDs Issue have been rated "CRISIL AA-/Stable" by CRISIL Ratings Limited Limited.
Lead Manager of Muthoot Fincorp Limited NCD
The lead manager for the Muthoot Fincorp Limited NCD 2024 is SMC Capitals Limited Limited.
How to Apply for Muthoot Fincorp Limited NCD?
Wait for the NCD to open for subscription, then click here to apply for this NCD online and in a hassle free way.
How to Check the Allotment Status of Muthoot Fincorp Limited NCD?
The Muthoot Fincorp Limited NCD 2024 registrar is Integrated Registry Management Services Private Limited. To check your allotment status, please click here.
FAQs
1. When will the Muthoot Fincorp Limited NCD be open for subscription?
Muthoot Fincorp Limited NCD issue will open on Wednesday April 10, 2024 and will close on Thursday, April 25, 2024.
2. What is the issue size and price of the NCD?
The overall issue size is of Rs 100 crores. Muthoot Fincorp NCD issue price is Rs 1000 per NCD and face value is Rs 1000 each NCD. The minimum lot size is 10 NCD.
3. What are the main objectives of the Muthoot Fincorp Limited NCD?
The Net Proceeds raised through the Tranche III Issue will be utilised for the purpose of lending - a minimum of 75% of the amount raised and allotted in the Issue and For General Corporate Purposes - shall not exceed 25% of the amount raised and allotted in the Issue.
4. How has Muthoot Fincorp Limited performed financially?
Muthoot Fincorp Limited reported a revenue of Rs 36.13 crore and profit after tax of Rs 0.86 crore for the period ending on 31 March 2023. Company’s revenue increased by 25.95% and net profit rose by 11.86% between the FY 22-23.
5. How can I apply for the Muthoot Fincorp Limited NCD ?
Wait for the NCD to open for subscription, then click here to apply for the Muthoot Fincorp Limited NCD.
6. How can I check the allotment status of the NCD?
The Muthoot Fincorp Limited NCD 2024 registrar is Integrated Registry Management Services Private Limited. To check your allotment status, please click here.
7. What are the tenors and coupon rates for the NCD?
The NCDs offer tenors of 26, 38, 60, 72 and 94 months, with coupon rates varying from 8.90% to 10.00% from Series 1 to Series 13.
8. Who is the lead manager for the Muthoot Fincorp Limited NCD?
SMC Capitals Limited is the lead manager for this NCD issue.
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