Established in 1997, Muthoot Finance NCD IPO is a non-banking financial company (NBFC) headquartered in Kerala, India, boasting an impressive lineage spanning 800 years in the family business.
Muthoot Finance NCD IPO offers a diverse range of financial services, including gold loans, housing finance (home loans), personal loans, insurance, gold coins, money transfer services, foreign exchange, mutual funds, microfinance, and vehicle loans.
With an extensive presence, Muthoot Finance operates through a network of 4,742 branches across 22 states, the national capital territory of Delhi, and six union territories in India, with a dedicated workforce of 27,701 employees. As of June 30, 2023, the company held a gold loan portfolio comprising approximately 8.34 million active loan accounts.
The company serves a diverse clientele, catering to small business owners, vendors, traders, farmers, and salaried individuals. As of March 31, 2023, Muthoot Finance had borrowings totaling ₹296,243.02 million from various banks and financial institutions.
Muthoot Finance NCD IPO Tranche II September 2023 Detail
| Issue Open | September 21, 2023 – October 6, 2023 |
| Security Name | Muthoot Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 2,600.00 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 by ICRA Limited |
| Tenor | 24, 36, and 60 Months |
| Series | Series I to VII |
| Payment Frequency | Monthly and Annually |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Idbi Trusteeship Services Ltd. |
NCD Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 20% |
| HNI | 25% |
| Retail | 50% |
NCD Rating
The NCDs proposed to be issued under this Issue have been rated [ICRA] AA+/Stable (pronounced as ICRA Double A plus rating with stable outlook) by ICRA Limited.
Company Promoters
Mr. George Thomas Muthoot, Mr. George Jacob Muthoot, and Mr. George Alexander Muthoot are the promoters of the company.
Objects of the Issue
The Net Proceeds raised through the Tranche II Issue will be utilized for the following activities:
- For the purpose of lending – a minimum of 75% of the amount raised and allotted in the Issue.
- For General Corporate Purposes – shall not exceed 25% of the amount raised and allotted in the Issue.
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