Muthoot Finance Limited NCD

Incorporated in 1997, Muthoot Finance Limited is Kerala based gold loan NBFC company with a legacy of 800 years of the family business. The company offers Gold Loan, Housing Finance (Home Loans), Personal Loan, Insurance, Gold Coins, Money Transfer Services, Foreign Exchange, Mutual Funds, Micro Finance and Vehicle loan.
Muthoot Finance Gold Loan portfolio as of June 30, 2022 comprised approximately 8.09 million loan accounts in India that we serviced through 4,617 branches across 22 states, the national capital territory of Delhi and six union territories in India. As of June 30, 2022 the company has employed 26,618 persons in its operations.

Muthoot Finance Limited Tranche IV NCD Nov 2022 Detail

Issue Open Nov 28, 2022 - Dec 19,2022
Security Name Muthoot Finance Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size 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
Tenor 24, 36 and 60 months
Series Series I to VII
Payment Frequency Monthly and Annually
Basis of Allotment First Come First Serve Basis

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      
Tenor 36 months 60 months 24 months 36 months 60 months 36 months 60 months
Coupon Rate (% per annum) (A)  (Retail & HNI) 7.35% 7.50% 7.25% 7.60% 7.75% NA NA
Additional incentive above Coupon Rate (% per annum) on any Record Date as applicable to Category III and Category IV investors (B) 0.50% 0.50% 0.50% 0.50% 0.50% NA NA
Aggregate of the Coupon Rate and the additional incentive above the Coupon Rate on any Record Date as applicable to Category III and Category IV investors {(A) + (B)}  7.85% 8.00% 7.75% 8.10% 8.25% NA NA
Effective Yield (% per Annum) 7.85% 8.00% 7.75% 8.10% 8.25% 8.10% 8.25%
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,263.21 Rs 1,486.41 

 

NCD Rating
The NCDs proposed to be issued under the Issue have been rated [ICRA] AA+/Stable by ICRA Limited such ratings are considered to have a stable outlook.

Company Promoters
George Thomas Muthoot, George Jacob Muthoot and George Alexander Muthoot are the company promoters.


NCD Allocation Ratio

 

Category NCD's Allocated
Institutional 5%
Non-Institutional 5%
HNI 40%
Retail 50%


Who Can Apply

Category I

 Category II Category III Category IV
 

• Public financial institutions, scheduled commercial banks, Indian multilateral and bilateral development financial institutions which are authorised to invest in the NCDs;

• Provident funds and pension funds with a minimum corpus of Rs 250 million, superannuation funds and gratuity funds, which are authorised to invest in the NCDs;                                         

• Alternative Investment Funds, subject to investment conditions applicable to them under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012;

• Resident Venture Capital Funds registered with SEBI; 

• Insurance Companies registered with IRDAI; 

• State industrial development corporations;   

• Insurance funds set up and managed by the army, navy, or air force of the Union of India;                                                  • Insurance funds set up and managed by the Department of Posts, the Union of India;   

• Systemically Important Non-Banking Financial Company registered with the RBI and having a net-worth of more than Rs 5,000 million as per the last audited financial statements;           

• National Investment Fund set up by resolution no. F. No. 2/3/2005 –DDII dated November 23, 2005 of the Government of India published in the Gazette of India; and     

• Mutual Funds registered with SEBI.hhgh

                                    

                                                                    

                               

• Companies within the meaning of Section 2(20) of the Companies Act, 2013;     

• Statutory bodies/ corporations and societies registered under the applicable laws in India and authorised to invest in the NCDs;   

• Co-operative banks and regional rural banks;   

• Trusts including public/private charitable/religious trusts which are authorised to invest in the NCDs;       

• Scientific and/or industrial research organisations, which are authorised to invest in the NCDs;   

• Partnership firms in the name of the partners;     

• Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009); 

• Association of Persons; and 

• Any other incorporated and/ or unincorporated body of persons.                               

 • Resident Indian individuals or Hindu Undivided Families through the Karta applying for an amount aggregating to above INR 10,00,000 across all options of NCDs in the Issue.                               
  •  Retail individual investors, resident Indian individuals or Hindu Undivided Families through the Karta applying for an amount aggregating up to and including Rs 10,00,000 across all options of NCDs in the Issue and shall include Retail Individual Investors, who have submitted bid for an amount not more than UPI Application Limit (being Rs 500,000 for public issue of debt securities) in any of the bidding options in the Issue (including HUFs applying through their Karta and does not include NRIs) though UPI Mechanism.
                          

APPLICATIONS CANNOT BE MADE BY

  • Minors without a guardian name (A guardian may apply on behalf of a minor. However, the name of the guardian will need to be mentioned on the Application Form);
  • Foreign nationals;
  • Persons resident outside India;
  • Foreign Institutional Investors;
  • Non Resident Indians;
  • Qualified Foreign Investors;
  • Overseas Corporate Bodies;
  • Foreign Venture Capital Funds;
  • Persons ineligible to contract under applicable statutory/ regulatory requirements.

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