Muthoot Fincorp Limited NCD IPO (Muthoot Fincorp NCD Tranche III December 2024) Detail
Established in 1997, Muthoot Fincorp Limited is a non-deposit-taking Non-Banking Financial Company (NBFC). Known for its Muthoot Fincorp NCD offerings, the company specializes in providing personal and business loans secured by gold ornaments and jewelry. These gold loan products address the short-term liquidity needs of individuals for both personal and business purposes.
As of September 30, 2024, the company’s gold loan portfolio consisted of approximately 33.79 lakh loan accounts, compared to 30.46 lakh loan accounts as of March 31, 2024.
By June 30, 2024, Muthoot Fincorp operated 3,707 branches across various states in India, including the Union Territory of Andaman and Nicobar Islands and the National Capital Territory of Delhi.
The company offers a range 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, Muthoot Fincorp provides foreign exchange and money transfer services as a sub-agent for multiple registered money transfer operators. The company also diversifies its business operations across the following segments:
- Wind energy generation and sales through its wind farms in Tamil Nadu
- Real estate ventures through joint development projects involving its properties
Muthoot Fincorp NCD IPO Tranche III December 2024 Detail
| Issue Open | December 23, 2024 – January 6, 2025 |
| 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 200.00 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 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
NCD Rating
The Non-Convertible Debentures (NCDs) to be issued as part of this offering have been assigned a rating of CRISIL AA-/Stable by CRISIL Ratings Limited.
Company Promoters
The company is promoted by Thomas John Muthoot, Thomas Muthoot, and Thomas George Muthoot.
Company Financials
Muthoot Fincorp Limited Financial Information (Restated Consolidated)
Muthoot Fincorp Limited recorded a 28% growth in revenue and a 62% increase in profit after tax (PAT) between the financial years ending March 31, 2023, and March 31, 2024.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | ||||||||||||||||||
| Assets | 38,704.14 | 32,134.61 | ||||||||||||||||||
| Revenue | 6,584.52 | 5,151.33 | ||||||||||||||||||
| Profit After Tax | 1,047.98 | 646.42 | ||||||||||||||||||
| Net Worth | 5,796.46 | 4,257.18 | ||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||
Purpose of the Issue
The table below outlines the objectives of this Tranche III and the allocation of funds from the Net Proceeds:
- To support on-lending, financing, and the repayment or prepayment of interest and principal on the company’s existing loan liabilities.
- For general corporate purposes.
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