Established in 1997, Muthoot Fincorp Limited functions as a non-deposit-taking Non-Banking Financial Company (NBFC). The company specializes in offering secured personal and business loans, utilizing gold ornaments and jewelry as collateral. The gold loan product caters to the short-term liquidity needs of individuals, serving both personal and business purposes.
As of September 30, 2023, Muthoot Fincorp Limited's gold loan portfolio encompassed approximately 31.68 lakhs of loan accounts.
The company has established a robust presence with 3,619 branches spread across 24 states, including the Union Territory of Andaman and Nicobar Islands and the National Capital Territory of Delhi. In its operations, Muthoot Fincorp Limited employs a workforce of 20,507 people, including 91 contracted experts, as of September 30, 2023.
The company is launching debt offer, and the subscription period for this offer will be from January 12 to January 25, 2023. Click here to apply in the Muthoot Fincorp Limited NCD.
The company is raising Rs 75 crore from the issue at a price of Rs 1000 each. Investors need to apply for a minimum of 10 NCDs in a lot. The company has received rating of CRISIL AA-/Stable by CRISIL Ratings Limited.
The company will use the net proceeds from the issue for the purpose of working capital requirements and other general corporate purposes.
Muthoot Fincorp Limited has allotted 5% to institutional investors, 35% to non-institutional investors and 60% to retail investors.
These NCDs have tenures of 24, 36, 60 and 96 Months. It offers coupon rates from 8.90% to 9.75% based on the selection of investors. The frequency of interest payments will be monthly, annually or cumulative basis. Allotment of these NCDs will be in dematerialized mode only. Application is to be made through ASBA mode only.
Check the coupon rates of NCDs of Muthoot Fincorp Limited:
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 Months | 36 Months | 60 Months | 96 Months |
Coupon (% per Annum) | 8.90% | 9.15% | 9.35% | 9.25% | 9.50% | 9.75% | NA | NA | NA | NA |
Effective Yield (% per Annum) | 9.26% | 9.53% | 9.75% | 9.25% | 9.50% | 9.75% | 9.25% | 9.50% | 9.75% | 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 1,194.00 | Rs 1,313.00 | Rs 1,592.00 | Rs 2,001.00 |
RHP:
https://www.sebi.gov.in/sebi_data/attachdocs/jan-2024/1704171979491.pdf
Tax implications:
Muthoot Fincorp Limited NCD is managed by SMC Capitals Limited. Integrated Registry Management Services Private Limited is the registrar of NCD and Vardhman Trusteeship Private Limited is debenture trustee to the same.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.