26-Oct-2023
2 mins read
Established in 1997, Muthoot Fincorp Limited functions as a non-deposit-accepting NBFC. Its main business revolves around providing personal and business loans backed by gold jewellery and ornaments. These gold loans cater to the immediate liquidity needs of customers, whether for personal or business use.
As of June 30, 2023, the firm has an impressive gold loan portfolio consisting of around 31 lakh loan accounts. Operating from 3,619 branches scattered across 24 Indian states, they also have a presence in the union territory of Andaman and Nicobar Islands, as well as the national capital territory of Delhi. Their team includes 19,008 dedicated professionals, along with 110 external experts.
Muthoot Fincorp’s array of gold loan offerings includes:
- Blue Guide Gold Loan
- Blue Bright Gold Loan
- Blue Power Gold Loan
- Blue Bigg Gold Loan
- Blue Smart Gold Loan
- 24×7 Express Gold Loan
Aside from its core gold loan operations, the company has diversified into services like foreign exchange and money transfers, representing various recognised money transfer agencies. Expanding its portfolio further, Muthoot Fincorp has ventured into wind energy, harnessing and marketing it from its farms in Tamil Nadu. They also have a foot in the real estate sector, partnering with developers to capitalise on company-owned lands.
Financial Performance of Muthoot Fincorp Limited (In Crore)
| 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 |
Important Dates for Muthoot Fincorp Limited
| Issue Open | October 13, 2023 – October 27, 2023 |
| Security Name | Muthoot Fincorp Limited |
| Issue Size (Base) | Rs 225.00 Crores |
| Issue Size (Shelf) | Rs 1,100.00 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 AA- /Stable by CRISIL Ratings Limited |
| Tenor | 24, 36, 60 and 96 Months |
| Series | Series I to X |
| 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
| # | 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 | Annual | Annual | Annual | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 96 Months |
| Coupon (% per Annum) | 8.65% | 8.90% | 9.05% | 9.00% | 9.27% | 9.44% | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 8.99% | 9.26% | 9.42% | 8.99% | 9.26% | 9.43% | 8.99% | 9.26% | 9.43% | 9.05% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,188.00 | Rs 1,305.00 | Rs 1,570.00 | Rs 2,001.00 |
NCD Rating
The company has received a rating of CRISIL AA-/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Company Promoters of Muthoot Fincorp Limited
The promoters of the company are Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot.
The Objective of the Issue
The company aims to use the net proceeds from the issuance for specific financial allocations. Approximately 75% of the funds secured and allocated in this Tranche II Issue will be directed towards working capital needs. Meanwhile, the remaining 25% is earmarked for general corporate objectives.
How to Apply for Muthoot Fincorp Limited NCD
Wait for the NCD to open for subscription, then click on this link to apply for the Muthoot Fincorp Limited NCD with Bigul https://ncd.bonanzaonline.com/.
How to Check the Allotment Status of Muthoot Fincorp Limited NCD
The registrar for Muthoot Fincorp Limited NCD is Integrated Registry Management Services Private Limited. To check your allotment status, please click on this link https://www.integratedindia.in/corporate-container.aspx?cpi
FAQs
- What is Muthoot Fincorp Limited known for?
Muthoot Fincorp Limited, founded in 1997, is a notable non-deposit-taking NBFC. It chiefly offers personal and business loans secured by gold jewelry and ornaments.
- How expansive is their operation?
As of June 30, 2023, the company operates from 3,619 branches across 24 Indian states, the Andaman and Nicobar Islands, and the national capital territory of Delhi.
- What are the different gold loan products they offer?
The company provides several gold loan products such as Blue Guide, Blue Bright, Blue Power, Blue Bigg, Blue Smart, and the 24×7 Express Gold Loan.
- Do they operate in any other sectors apart from gold loans?
Yes, they also offer services like foreign exchange, money transfers, wind energy generation in Tamil Nadu, and real estate ventures on company-owned lands.
- What is the financial standing of Muthoot Fincorp Limited as of 2023?
As of March 31, 2023, the company’s assets stood at 32,134.61 Crores, with a revenue of 5,151.33 Crores and a net worth of 4,257.18 Crores.
- When is the NCD of Muthoot Fincorp Limited open for subscription?
The NCD is open from October 13, 2023, to October 27, 2023.
- What is the credit rating of the NCDs?
The NCDs have been rated CRISIL AA-/Stable by CRISIL Ratings Limited.
- Who are the company’s promoters?
The promoters are Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot.
- What is the main objective of this NCD issue?
The company aims to allocate approximately 75% of the proceeds for working capital needs and the remaining 25% for general corporate purposes.
- How can one apply for the NCD?
Interested individuals can wait for the NCD subscription to open and then apply via this link: Bigul NCD Application.
- How can I check my allotment status for the NCD?
The registrar for this NCD is Integrated Registry Management Services Private Limited. You can check the allotment status here.
- What is the minimum lot size for this NCD?
The minimum lot size is 10 NCDs.