Established in 1997, Muthoot Fincorp NCD IPO stands as a non-deposit-taking Non-Banking Financial Company (NBFC) with a strong focus. Its core business revolves around providing secured personal and business loans, backed by valuable gold ornaments and jewelry. This lending approach caters to both individual and business needs, offering a reliable solution for short-term financial liquidity.
The company’s gold loan portfolio, recorded as of June 30, 2023, showcases a substantial presence, encompassing around 3.1 million loan accounts.
By the same date, Muthoot Fincorp NCD IPO managed a widespread operational network, boasting an impressive count of 3,619 branches spanning across 24 states. This extensive reach extends even to unique regions like the Andaman and Nicobar Islands, as well as the national capital territory of Delhi. Fueling this operational engine are 19,008 dedicated employees, including a pool of 110 specialized experts, all contributing to the company’s seamless functionality.
Some of the Gold Loan products offered by the company are:
- 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
- 24×7 Express Gold loan
In addition to the Gold loan business, the Company provides foreign exchange conversion and money transfer services as sub-agents of various registered money transfer agencies. Muthoot Fincorp NCD is also engaged in the following business:
- Generation and sale of wind energy through its wind farms located in Tamil Nadu; and
- Real estate business through joint venture developers of the company-owned land parcels.
Muthoot Fincorp NCD Sep Tranche I 2023 Detail
| Issue Open | Sep 1, 2023 – Sep 14, 2023 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 400.00 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 |
| 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 |
NCD Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 35% |
| Retail | 60% |
| Category 4 | 0% |
Muthoot Fincorp NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | Series 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Monthly | Annual | Annual | Annual | Cumulative | Cumulative | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 24 Days | 36 Days | 60 Days | 96 Days |
| Coupon (% per Annum) | 8.65% | 8.90% | 9.05% | 9.00% | 9.27% | 9.44% | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 8.99% | 9.26% | 9.43% | 8.99% | 9.26% | 9.43% | 8.99% | 9.26% | 9.43% | 9.05% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,188.00 | Rs 1,305.00 | Rs 1,570.00 | Rs 2,001.00 |
NCD Rating
The company has received rating of CRISIL AA-/Stable by CRISIL Ratings Limited.
Company Promoters
Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.
Company Financials
Muthoot Fincorp NCD Sep Tranche I 2023 Financial Information (Restated Consolidated)
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 26,284.54 | 28,422.34 | 32,134.61 |
| Revenue | 4,101.19 | 4,355.13 | 5,151.33 |
| Profit After Tax | 397.28 | 412.55 | 646.42 |
| Net Worth | 3,034.70 | 3,731.16 | 4,257.18 |
Objects of the Issue
The company proposes to utilise the funds which are being raised through the Issue:
1. For the purpose of Working Capital– 75% of the amount raised and allotted in the Issue.
2. For General Corporate Purposes– 25% of the amount raised and allotted in the Issue
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