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Let’s have a detailed review of the company and analytics of the Muthoot Fincorp Limited NCD release date, NCD issue size, subscription, Muthoot Fincorp Limited NCD allotment, and other details like the company’s background, its financial positions, its promoters, and other related things.


Muthoot Fincorp Limited NCD – September 2021 Detail

Credit Rating“CRISILA+/Stable” by CRISIL Ratings
Issue OpenSep 30, 2021
Issue CloseOct 26, 2021
Issue Size (Base)Rs 200.00 Crores
Issue Size (Shelf)Rs 200.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Tenor27, 38, 60, 72, and 87 Months
SeriesSeries I to Series X
Payment FrequencyMonthly and Cumulative
Basis of AllotmentFirst Come First Serve Basis

Muthoot Fincorp Limited NCD – Basis of the Offer Price

ISSUE STRUCTURE
Security NameMuthoot Fincorp Limited NCD
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Coupon payment frequencyMonthly and Cumulative
Coupon typeFixed
Tenor27, 38, 60, 72, and 87 Months
DepositoryNSDL and CDSL
DisbursementSEBI Debt Regulations
Debenture TrusteeCatalyst Trusteeship Limited

Muthoot Fincorp Limited NCD Dates

The opening and the closing date of Muthoot Fincorp Limited NCD is Sep 30, 2021, to Oct 26, 2021.


Muthoot Fincorp Limited NCD Subscription

Day / DateQIB Category 1NII Category 2RII Category 4Total Subscription
1st – 10th Day: till Oct 10, 20210.05x1.13x2.88x2.04x
10th – 20th Day: till Oct 20, 2021
0.05x1.34x3.62x2.53x
20th – Last Day : till Oct 26, 20210.05x1.41x3.68x2.59x
Shares Offered or Net Issue100,000800,0001,100,0002,000,000

The shares subscribed by the public will be updated here.


Muthoot Fincorp Limited NCD Allotment Status

Here, you can find the Allotment Status of this NCD.


Muthoot Fincorp Limited NCD Share Offering

Public issue by their Company of NCDs of face value INR 1,000 each for an amount aggregating up to INR 25,000 lakhs, with an option to retain over-subscription up to INR 25,000 lakhs, aggregating up to INR 50,000 lakhs, on the terms and in the manner set forth herein

Muthoot Fincorp NCD Allocation Ratio

NCD Allocation Ratio
CategoryNCD’s Allocated
QIB – Category 110%
Corporate – Category 240%
HNI – Category 350%
RII – Category 40%

Muthoot Fincorp Limited NCD’s Offered

NCD’s Offered
CategoryNCD’s Reserved
QIB – Category 1250,000
NII – Category 21,000,000
HNI – Category 31,250,000
RII – Category 40
Total NCD’s2,500,000

Muthoot Fincorp NCD Coupon Rates

Tenure27 Months38 Months60 Months72 Months87 Months27 Months38 Months60 Months87 Months
NatureSecuredUnsecuredSecuredUnsecured
OptionsIIIIIIIVVIVIIVIIIIX
Frequency of Interest
Payment
MonthlyMonthlyMonthlyMonthlyMonthlyCumulativeCumulativeCumulativeCumulative
Minimum ApplicationRs.10,000 (10 NCDs)
In multiples, of1 NCD after the minimum application
Face Value of NCDs (Rs.
/NCD)
Rs. 1,000
Issue Price (Rs. /NCD)Rs. 1,000
Mode of Interest
Payment/ Redemption
Through various options available
Coupon (%) per annum*8.25%8.50%8.75%9.50%9.75%NANANANA
Coupon TypeFixed
Redemption Amount (Rs.
/NCD) for Debenture
Holders*
1,0001,0001,0001,0001,0001,2031,3071,5462,022
Effective Yield (%)(per
annum)*
8.57%8.84%9.10%9.92%10.20%8.58%8.83%9.10%10.19%
Put and Call OptionNot applicable

Muthoot Fincorp Limited NCD Issue Object

The Company has filed this Prospectus for a public issue of NCDs aggregating to Rs. 25,000 lakhs with an option to retain oversubscription up to Rs. 25,000 lakhs, aggregating to Rs. 50,000 lakhs.

The funds raised through this Issue, after deducting the Issue related expenses to the extent payable by their Company (the “Net Proceeds”), are estimated to be approximately Rs. 49,850 lakhs.

The Net Proceeds of the Issue are intended to be utilized by their Company for the following objects (collectively, referred to herein as the “Objects”) subject to applicable statutory and regulatory requirements:

1. For the purpose of Working Capital – 75% of the amount raised and allotted in the Issue; and

2. For General Corporate Purposes – 25% of the amount raised and allotted in the Issue


Muthoot Fincorp Limited – Company Overview

Muthoot Fincorp Limited NCDThe Company is one of the largest Indian NBFCs engaged primarily in the business of providing personal and business loans secured by gold jewellery and ornaments.

The Gold loan products are structured to serve the business and personal purposes of individuals who do not have ready or timely access to formal credit or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.

The Gold loan portfolio of their Company as of June 30, 2019, comprised approximately 28.50 Lakhs loan accounts that were serviced through 3,551 branches located across 19 states, union territory of Andaman and Nicobar Islands, and the national capital territory of Delhi.

They have been engaged in the Gold loans business for over a decade and are headquartered in Kerala, India. The Company provides retail loan products, primarily comprising of Gold loans.

The Gold loan products 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, and 24×7 Express Gold loan.

The product of their Company, the “24×7 Express Gold loan” can be utilized by individuals who require quick loans against their gold jewellery and who have an existing loan with the Company. This is a type of top-up loan. “Smart Plus Gold loan”, the other Gold loan variant of their Company is specifically designed for salaried customers, with tenure of up to 24 months.


Muthoot Fincorp Limited NCD Lead Managers

Lead Managers
SMC Capitals Limited
A 401/402, Lotus Corporate Park
Jai Coach Junction,
Off Western Express Highway, Goregaon (East),
Mumbai 400 063, Maharashtra
Tel: +91 22 6648 1818
Email: mflncd2021@smccapitals.com
Contact person: Satish Mangutkar / Bhavin Shah

Muthoot Fincorp NCD Debenture Trustee

Debenture Trustee
Vardhman Trusteeship Private Limited*
The Capital, 412 A. 4th Floor,
A-Wing, Bandra Kurla Complex, Bandra (East)
Mumbai 400 051, Maharashtra
Tel: +91 22 4264 8335
E-mail: corporate@vardhmantrustee.com
Contact Person: Nikhil Pradhan

Muthoot Fincorp NCD Registrar to offer

Registrar to the Offer
Integrated Registry Management Services Private Limited
II Floor, Kences Towers, No. 1 Ramakrishna Street
North Usman Road, T. Nagar
Chennai 600 017, Tamil Nadu
Tel: +91 44 2814 0801/ 0802/ 0803
Fax: +91 44 2814 2479
Email: mfinipo@integratedindia.in
Website: www.integratedindia.in

Muthoot Fincorp Limited NCD Ratings

The NCDs proposed to be issued under this Issue have been rated “CRISIL A+/Stable” for an amount of Rs 40,000 lakhs by CRISIL vide their letter dated December 13, 2021. The rating of “CRISIL A+/Stable” by CRISIL indicates that instruments with this rating are considered to have an adequate degree of safety regarding timely servicing of financial obligations and carry the lowest credit risk.

For the rationale for this rating, see Annexure A to this Draft Prospectus. This rating is not a recommendation to buy, sell or hold securities and investors should take their own decision.

This rating is subject to revision or withdrawal at any time by the assigning rating agency and should be evaluated independently of any other ratings. Please refer to Annexure A of this Draft Prospectus for the rating letter and rationale for the above rating.


Muthoot Fincorp Limited NCD News

News 1 – RHP Prospectus [Download]


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