The Non-Convertible Debentures issued by Muthoot Fincorp Limited started from April 12th, 2023 to April 26th, 2023. CRISIL has given these NCDs a stable AA rating. Eight separate series of Muthoot Fincorp NCD is being issued, with terms varying from 27 months to 60 years and coupons ranging from 8.10% to 8.83% per year. The maximum amount the company hopes to raise is Rs 150 crore with a Face value of Rs. 100 each NCD and a minimum lot size of 10 NCD. The NCDs have a redeemable and secure nature. Let’s investigate more details and get into greater detail about this NCD issue.
About Muthoot Fincorp Limited
Muthoot Fincorp Limited, incorporated in 1997, is an NBFC that does not accept deposits. Gold ornaments and jewellery are used as collateral for the company’s loans to consumers and small businesses. Individuals can get the short-term cash they need with the gold loan product, which can be used for either personal or commercial purposes. As of December 31, 2022, the company’s Gold loan portfolio had 32.89 lakhs of loan accounts. Including 168 contracted experts, the organization had 15,079 employees and 3,627 branches as of December 31, 2022. This included locations in 24 states and the union territory of the Andaman and Nicobar Islands.
The Company is a sub-agent for many recognized money transfer organizations, therefore in addition to its Gold lending business, it also offers foreign exchange conversion and money transfer services. The following are further pursuits in which Muthoot Fincorp is involved:
The company’s wind farms in Tamil Nadu produce and sell wind energy, while the company also engages in the real estate market via joint venture developers who build on land it owns.
Muthoot Fincorp NCD 2023 – Issue Details
| Issue Type | Secured, Redeemable, Non-Convertible Debentures |
| Issue Company | Muthoot Fincorp Limited |
| Issue Open | April 12, 2023 |
| Issue Close | April 26, 2023 |
| Coupon Rate (ROI) | 8.10% to 8.83% |
| Face Value | Rs. 1000 |
| Issue Price | Rs. 1000 |
| Issue Size | Base – Rs. 150 Cr., Shelf – Rs. 300 Cr. |
| Minimum Order Quantity | 10 NCDs (Rs. 10,000) |
| Listing | BSE |
| Listing Date | Within 6 Working Days of Issue Closing Date |
Muthoot Fincorp NCD 2023 – Objects of the Issue
The proceeds from the Issue will be used as follows, as stated by the company:
- 75% of the proceeds from the Issue will be used for Working Capital.
- 25% of the proceeds from the Issue will be used for general corporate purposes.
Rating of Muthoot Fincorp NCD Issue
This NCD issue has been rated AA-/Stable by CRISIL Ratings Limited.
Muthoot Fincorp Limited – Company Contact Details
- Address: Muthoot Fincorp Limited, Muthoot Centre, TC No 27/3022 Punnen Road, Trivandrum 695 001, Kerala
- Telephone: +91 471 491 1550
- Website: http://www.muthootfincorp.com/
Muthoot Fincorp Ltd. NCD 2023 – Lead Manager of the Issue
The lead manager for this NCD issue is Smc Capitals Limited.
Muthoot Fincorp Ltd. NCD 2023 – Registrar of the Issue
The registrar of this NCD issue is Integrated Registry Management Services Private Limited
Muthoot Fincorp Ltd. NCD 2023 – Debenture Trustee
The trustee of this debenture issued by Muthoot Fincorp Limited is Vardhman Trusteeship Private Limited
Issue Documents
Please click here to read the final issue prospectus for detailed information on Muthoot Fincorp Ltd. NCD issue 2023.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Investment in securities is subject to market risk. Please read the offer document carefully before investing. It is also advised to consult your financial advisor for necessary suggestions.
