The Muthoot Mercantile Limited Issue Open has been confirmed from May 6, 2024 – May 17, 2024. Read the post to learn about Muthoot Mercantile Limited NCD
Muthoot Mercantile Limited Developers IPO is a fixed price issue of Rs 50.00 Crores The Company is a non-banking financial company engaged in the business of lending loans against the security of Gold, Investments, Health Insurance, Forex Services, and Money Transfer.
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Key Details Of Muthoot Mercantile Limited NCD
Bidding Dates
May 6-17
Issue Price
Rs 1000 per NCD
Face Value
Rs 1000 each NCD
Market Lot
1 NCD
Muthoot Mercantile Limited NCD
The Muthoot Mercantile Limited NCD Face Value is Rs 1000 each NCD.
Muthoot Mercantile Limited NCD Overview
Established in 1939, Muthoot Mercantile Limited is a financial company that provides loans secured by Gold, Investments, Health Insurance, Forex Services, and Money Transfer. The company operates branches in various states like Kerala, Tamil Nadu, Maharashtra, Odisha, Delhi, Haryana, Madhya Pradesh, Punjab, and Uttar Pradesh, with plans for further growth. Their headquarters is in Thiruvananthapuram, Kerala, and they have a long history of lending money, particularly focusing on small-scale loans using gold jewellery. Throughout 84 years, the company has developed its services.
Muthoot Mercantile Limited NCD Detail
| Issue Open | May 6, 2024 – May 17, 2024 |
| Security Name | Muthoot Mercantile Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 50.00 Crores |
| Issue Size (Oversubscription) | Rs 50.00 Crores |
| Overall Issue Size | Rs 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 | IND BBB/Stable by by India Ratings & Research Private Limited |
| Tenor | 367days, 18, 24, 36, 60, 75 months |
| Series | Series I to XI |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Mitcon Credentia Trusteeship Services Limited |
Muthoot Mercantile Limited Financial Information
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 818.04 | 606.51 | 420.36 | 316.24 |
| Revenue | 35.91 | 94.67 | 67.02 | 49.39 |
| Profit After Tax | 8.73 | 18.19 | 17.02 | 14.02 |
| Net Worth | 148.74 | 135.56 | 117.37 | 100.35 |
| Amount in ₹ Crore | ||||
Muthoot Mercantile Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 | Series 11 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 367 Days | 367 Days | 18 Months | 18 Months | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 75 Months |
| Coupon (% per Annum) | 10.50% | NA | 10.50% | NA | 10.60% | NA | 10.75% | NA | 10.80% | NA | NA |
| Effective Yield (% per Annum) | 11.02% | 10.60% | 11.02% | 10.34% | 11.13% | 10.45% | 11.30% | 10.66% | 11.35% | 10.63% | 11.73% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,106.00 | Rs 1,000.00 | Rs 1,159.00 | Rs 1,000.00 | Rs 1,292.92 | Rs 1,000.00 | Rs 1,355.10 | Rs 1,000.00 | Rs 1,657.16 | Rs 2,000.00 |
Muthoot Mercantile Limited Limited NCD Allocation Ratio
| Category | NCD’s Reserved |
|---|---|
| Institutional | 50,000 |
| Non-Institutional | 200,000 |
| Retail | 250,000 |
| Category 4 | 0 |
| Total NCD’s | 500,000 |
Company Profile
Muthoot Mercantile Limited, a prominent NBFC, is the main company of Muthoot Ninan Group. Established by M. Ninan Muthoot in 1939, the company’s primary focus is lending with gold security, investments, health insurance, forex services, and money transfer. It stands out as a gold loan company that values relationships and trust.
The Company is in a stable and strong financial position. Its main business is providing loans with gold as collateral. To support these gold loans, the company offers Non-Convertible Secured
Redeemable Debentures (NCDs) and Subordinate Debts (SDs). The funds raised from these debentures are solely used for granting loans with gold as security. There is no other purpose or diversification of the funds. Investing with Muthoot Mercantile Limited ensures complete security.
Registrar Info
| Name | Kfin Technologies Limited |
| Phone number | 04067162222, 04079611000 |
| Email ID | [email protected] |
| Website | kosmic.kfintech.com |
Contact Details
| Name | Muthoot Mercantile Limited |
| Phone number | +91-471-277-4800 |
| Email ID | [email protected] |
| Website | muthootenterprises.com |
NCD Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
NCD Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
