Established in 1997, Muthoot Fincorp Limited operates as a noteworthy non-deposit-taking NBFC. The company’s primary focus revolves around extending secured personal and business loans, leveraging gold ornaments and jewelry as collateral. This gold loan offering is tailored to cater to both individual and business needs, effectively addressing short-term liquidity requirements.
As of December 31, 2022, the company’s Gold loan portfolio exhibited an impressive count of approximately 32.89 lakhs of loan accounts.
With an expansive operational presence, Muthoot Fincorp Limited operates across a network of 3,627 branches dispersed across 24 states. This reach extends to encompass the union territory of Andaman and Nicobar Islands as well as the national capital territory of Delhi. The company’s dedicated workforce comprises 15,079 employees, which includes 168 contracted experts proficiently contributing to the company’s operations.
Muthoot Fincorp Limited is distinguished for its diverse Gold Loan product offerings, some of which include:
- Muthoot Blue Guide Gold loan
- Muthoot Blue Bright Gold loan
- Muthoot Blue Power Gold loan
- Muthoot Blue Bigg Gold loan
- Muthoot Blue Smart Gold loan
- 24×7 Express Gold loan
Beyond its Gold loan business, the company extends its services to encompass foreign exchange conversion and money transfer facilities, operating as sub-agents for various registered money transfer agencies. Notably, Muthoot Fincorp also actively participates in the generation and sale of wind energy, capitalizing on its wind farms situated in Tamil Nadu. Additionally, the company has ventured into real estate activities, collaborating with joint venture developers to leverage its land parcels for further growth and diversification.
Muthoot Fincorp NCD April 2023 Detail #
| Issue Open | Apr 12, 2023 – Apr 26, 2023 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 150.00 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 | CRISIL AA-/Stable by CRISIL Ratings Limited |
| Tenor | 27, 42, 60 and 84 Months |
| Series | Series I to VIII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
Muthoot Fincorp Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 |
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Monthly | Annual | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 27 Months | 42 Months | 60 Months | 84 Months | 60 Months | 27 Months | 42 Months | 84 Months |
| Coupon (% per Annum) | 8.40% | 8.65% | 8.80% | 9.00% | 9.15% | NA | NA | NA |
| Effective Yield (% per Annum) | 8.71% | 9.00% | 9.15% | 9.37% | 9.15% | 8.71% | 9.00% | 9.37% |
| 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 1,207.00 | Rs 1,353.00 | Rs 1,873.00 |
NCD Rating #
The company has received rating of CRISIL AA-/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Company Promoters #
Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.
Company Financials #
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 21,241.81 | 3,765.99 | 257.93 |
| 31-Mar-21 | 26,284.54 | 4,101.19 | 397.28 |
| 31-Mar-22 | 28,422.34 | 4,355.13 | 412.55 |
| Amount in ₹ Crore | |||
Objects of the Issue #
The company proposes to utilise the funds which are being raised through the Issue:
1. For the purpose of Working Capital– 75% of the amount raised and allotted in the Issue.
2. For General Corporate Purposes– 25% of the amount raised and allotted in the Issue
Muthoot Fincorp NCD April 2023 Prospectus #
Muthoot Fincorp NCD April 2023 Subscription Status #
The Muthoot Fincorp NCD April 2023 was subscribed 1.58 times on Apr 26, 2023 1:00:00 AM. The NCD subscribed 2.17 times in Retail, 0.80 times in Non-Institutional, and 0.04 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 2.17x |
| Non-Institutional | 0.80x |
| Institutional | 0.04x |
| Total | 1.58x |
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Company Contact Information #
Muthoot Centre,
TC No 27/3022 Punnen Road
Trivandrum 695 001, KeralaPhone: +91 471 491 1550
Email:
Website: http://www.muthootfincorp.com
Muthoot Fincorp NCD April 2023 Registrar #
Integrated Registry Management Services Private Limited
2 nd Floor,
Ramakrishna Street, North Usman Road,
T. Nagar, Chennai – 600 017
Phone: + 91 44 2814 0801 to 803
Email: mfinipo@integratedindia.in
Website: https://www.integratedindia.in/corporate-container.aspx?cpi
