Established in 1997, Muthoot Fincorp Limited functions as a non-deposit-taking NBFC. Its primary offerings include both personal and business loans, secured against gold ornaments and jewelry, catering to individuals’ short-term liquidity needs. Additionally, the company has gained notable attention for its involvement in the Muthoot Fincorp NCD IPO.
As of September 30, 2023, the company managed a gold loan portfolio with approximately 31.68 lakhs of loan accounts. By the same date, Muthoot Fincorp operated 3,619 branches spread across 24 states, encompassing territories like Andaman and Nicobar Islands and the National Capital Territory of Delhi. The workforce consisted of 20,507 individuals, inclusive of 91 specialized contract professionals.
Among its varied gold loan offerings, Muthoot Fincorp provides products such as:
- Muthoot Blue Guide Gold Loans
- 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 core gold loan services, the company also facilitates foreign exchange and money transfer operations, acting as a sub-agent for multiple registered money transfer entities. Additionally, Muthoot Fincorp engages in generating and marketing wind energy via its wind farms in Tamil Nadu and participates in real estate ventures through partnerships with developers for its properties.
Muthoot Fincorp NCD IPO January Tranche III 2023 Detail
| Issue Open | January 12, 2024 – January 25, 2024 |
| Security Name | Muthoot Fincorp NCD IPO |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Shelf) | Rs 1,100.00 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 | CRISIL AA- /Stable by CRISIL Ratings Limited |
| Tenor | 24, 36, 60 and 96 Months |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
Muthoot Fincorp NCD IPO Allocation Ratio
Muthoot Fincorp NCD IPO Coupon Rates
Muthoot Fincorp NCD IPO 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
Muthoot Fincorp Limited Financial Information (Restated Consolidated)
Muthoot Fincorp Limited’s revenue increased by 18.28% and profit after tax (PAT) rose by 56.69% between the financial year ending with March 31, 2023 and March 31, 2022
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 32,134.61 | 28,422.47 |
| Revenue | 5,151.33 | 4,355.13 |
| Profit After Tax | 646.42 | 412.55 |
| Net Worth | 4,257.18 | 3,731.16 |
| Reserves and Surplus | 3,481.27 | 2,958.70 |
| Total Borrowing | ||
| Amount in ₹ Crore | ||
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- For the purpose of Working Capital – 75% of the amount raised and allotted in this Tranche II Issue.
- For General Corporate Purposes – 25% of the amount raised and allotted in this Tranche II Issue.
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