Muthoot Fincorp Limited NCD: More Details About the NCD

  • 04-Apr-2024
  • 2 mins read
Muthoot Fincorp Limited NCD: More Details About the NCD

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.

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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