Muthoot Finance Limited, founded in 1997, is a Kerala-based gold-offering NBFC with an 800-year family business tradition. Gold loans, Housing Finance (Home Loans), Personal loans, Insurance, Gold Coins, Money Transfer Services, Foreign Exchange, Mutual Funds, Micro Finance, and Vehicle loans are all available from the organization.
As of September 30, 2022, the Muthoot Finance Gold Loan portfolio included of about 8.16 million loan accounts in India, which we serviced through 4,641 branches spread across 22 states, the national capital city of Delhi, and six union territories in India. As of September 30, 2022, the company’s operations employed 27,204 people. The company had Rs. 276,630.69 million in bank and financial institution borrowings as of March 31, 2022.
Objects of the IPO Issue
The Company proposes to utilize the funds which are being raised through the Issue towards funding the following objects in the ratio provided as below:
- For the purpose of lending – minimum of 75% of the amount raised and allotted in the Issue
- For General Corporate Purposes – shall not exceed 25% of the amount raised and allotted in the Issue
Muthoot Finance Limited Tranche I NCD April 2023 Detail
| Issue Open | Apr 12, 2023 – Apr 26, 2023 |
| Security Name | Muthoot Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Shelf) | Rs 300.00 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 | [ICRA] AA+/Stable by ICRA Limited |
| Tenor | 25, 37 and 61 months |
| Series | Series I to VII |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trusties | Idbi Trusteeship Services Ltd. |
NCD Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 5% |
| HNI | 40% |
| Retail | 50% |
NCD’s Offered by Category
| Category | NCD’s Reserved |
|---|---|
| Institutional | 37,500 |
| Non-Institutional | 37,500 |
| HNI | 300,000 |
| Retail | 375,000 |
| Total NCD’s | 750,000 |
Muthoot Finance Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 |
|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Annual | Annual | Annual | NA | NA |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 37 Months | 61 Months | 25 Months | 37 Months | 61 Months | 37 Months | 61 Months |
| Coupon (% per Annum) | 7.75% | 7.85% | 7.75% | 8.00% | 8.10% | NA | NA |
| Effective Yield (% per Annum) | 8.25% | 8.35% | 8.25% | 8.50% | 8.60% | 8.50% | 8.60% |
| 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 1,286.34 | Rs 1,521.42 |
NCD Rating
The NCDs proposed to be issued under this Issue have been rated [ICRA] AA+/Stable (pronounced as ICRA Double A plus rating with stable outlook) by ICRA Limited.
Company Promoters
- George Thomas Muthoot
- George Jacob Muthoot
- George Alexander Muthoot
Muthoot Finance Limited Financial Information (Restated Consolidated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 54,881.69 | 9,707.27 | 3,168.68 |
| 31-Mar-21 | 68,641.44 | 11,566.42 | 3,818.87 |
| 31-Mar-22 | 76,316.47 | 12,237.46 | 4,031.32 |
Muthoot Finance Limited Tranche I NCD April 2023 Subscription Status
The Muthoot Finance Limited Tranche I NCD April 2023 was subscribed 2.80 times on Apr 26, 2023 1:00:00 AM. The NCD subscribed 4.19 times in Retail, 1.50 times in HNI, 2.10 times in Non-Institutional, and 0.01 times in the Institutional category.
| Category | Subscription (times) |
|---|---|
| Retail | 4.19x |
| HNI | 1.50x |
| Non-Institutional | 2.10x |
| Institutional | 0.01x |
| Total | 2.80x |
Company Contact Information
Muthoot Finance Limited
2nd Floor, Muthoot Chambers,
Opposite Saritha Theatre Complex, Banerji Road,
Kochi – 682 018
Phone: (+91 484) 239 4712
Email: ncd@muthootgroup.com
Website: http://www.muthootfinance.com
Muthoot Finance Limited Tranche I NCD April 2023 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.ncd2023@linkintime.co.in
Website: https://linkintime.co.in
Muthoot Finance Limited Tranche I NCD April 2023 Lead Manager(s)
- A.K. Capital Services Limited
