Incorporated in 1997, Muthoot Fincorp Limited is a non-deposit-taking NBFC specializing in personal and business loans secured by gold jewelry. Their gold loan offerings cater to individuals needing short-term liquidity for personal or business purposes. The company is known for its Muthoot Fincorp NCD offerings, providing diverse financial solutions.
As of June 30, 2024, Muthoot Fincorp’s gold loan portfolio consisted of approximately 31.83 lakh accounts, compared to 30.46 lakh accounts as of March 31, 2024. This growth highlights the company’s expanding customer base and the increasing demand for its services, particularly in the context of the Muthoot Fincorp NCD.
As of June 30, 2024, Muthoot Fincorp NCD had 3,694 branches spread across 24 states, including the Andaman and Nicobar Islands and the National Capital Territory of Delhi. The company employed 23,000 people, including 97 contracted experts.
The company provides various 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 offers foreign exchange and money transfer services as a sub-agent for registered money transfer agents. Muthoot Fincorp is also involved in wind energy generation and sales in Tamil Nadu, as well as real estate development through joint ventures on its properties.
Muthoot Fincorp NCD IPO Tranche I August 2024 Detail
| Issue Open | August 28, 2024 – September 10, 2024 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 250.00 Crores |
| Tranche Issue Size | Rs 350.00 Crores |
| Issue Size (Shelf) | Rs 2,000.00 Crores |
| Tranche Number | 1 |
| 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 IPO Allocation Ratio
| Category | NCD’s Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 10% |
| HNI | 35% |
| Retail | 50% |
Muthoot Fincorp Limited NCD IPO Coupon Rates
Muthoot Fincorp NCD IPO Rating
CRISIL Ratings Limited assigned a “CRISIL AA-/Stable” rating (double A minus with a stable outlook) for ₹1,90,000 lakhs in NCDs on June 29, 2024. Additionally, they rated ₹1,10,000 lakhs in NCDs (₹10,900 lakhs unutilized) as “CRISIL AA-/Stable.”
Company Promoters
Purpose of the Issue
The table below outlines the objectives of this Tranche I and the allocation of funds from the Net Proceeds:
- On-lending, financing, and repaying/prepaying the interest and principal of the Company’s existing loan liabilities
- General corporate purposes
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