Founded in 1997, Muthoot Fincorp Limited is a non-banking financial company (NBFC) that does not accept deposits. It offers Muthoot Fincorp NCD along with personal and business loans secured by gold jewelry and ornaments. These gold-backed loans are designed to address short-term liquidity needs for both individuals and businesses.
As of June 30, 2024, Muthoot Fincorp’s gold loan portfolio consisted of approximately 3.183 million accounts, slightly up from 3.046 million accounts recorded on March 31, 2024.
By the end of June 2024, the company had 3,694 branches across 24 states, including the Andaman and Nicobar Islands and Delhi’s National Capital Territory. It employed a workforce of 23,000, including 97 contracted specialists.
Muthoot Fincorp offers a variety of gold loan products, including:
- 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
In addition to gold loans, the company provides foreign exchange and money transfer services as a sub-agent for registered money transfer agents. Muthoot Fincorp also operates in sectors such as wind energy generation and sales through its wind farms in Tamil Nadu, as well as real estate through joint ventures with developers for its properties.
Muthoot Fincorp NCD Tranche II October 2024 Detail
| Issue Open | October 11, 2024 – October 24, 2024 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Oversubscription) | Rs 175.00 Crores |
| Tranche Issue Size | Rs 250.00 Crores |
| Issue Size (Shelf) | Rs 2,000.00 Crores |
| Tranche Number | 2 |
| 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, 72, and 92 Months |
| Series | Series I to XIII |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
Muthoot Fincorp NCD Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 10% |
| HNI | 35% |
| Retail | 50% |
Muthoot Fincorp NCD Coupon Rates
NCD Rating
CRISIL Ratings Limited, in a letter dated June 29, 2024, assigned a CRISIL AA-/Stable rating (pronounced as CRISIL double A minus with a stable outlook) for Non-Convertible Debentures (NCDs) amounting to Rs. 1,90,000 lakhs. Additionally, a CRISIL AA-/Stable rating was given for NCDs amounting to Rs. 1,10,000 lakhs, of which Rs. 10,900 lakhs remain unutilized.
Purpose of the Issue
The table below outlines the objectives of Tranche I and the amount to be funded from the Net Proceeds:
- For on-lending, financing, and repaying or prepaying the interest and principal on the company’s existing loan liabilities
- General corporate purposes
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