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Muthoot Finance Ltd (MFL) is the largest gold loan NBFC based on the loan portfolio in India. The company provides personal and business loans secured by gold jewellery, or Gold Loans, to individuals.
Muthoot Finance is a 'Systemically Important Non-deposit taking NBFC' headquartered in the south Indian state of Kerala. In addition to Gold Loans, it provides money transfer services through their branches as sub-agents of various registered money transfer agencies and has commenced providing collection agency services. The company also operate three windmills in the state of Tamil Nadu.
As of December 30, 2018, the company has around 8.05 million loan accounts. It has built a network of 4,422 branches across 23 states, Delhi and the 5 union territories in India. It operates 218 ATMs spread across 17 states. The company employs24,063 persons in its operations
| Issue Open | May 10, 2019 - June 10, 2019 |
| Security Name | Muthoot Finance Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 4,000.00 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 | ICRA AA/Stable, CRISIL AA/Stable |
| Tenor | 24 / 38 / 60 /90 Months |
| Series | Series I to Series X |
| Payment Frequency | Monthly, Annually |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 10% |
| Category 2 | 10% |
| Category 3 | 30% |
| Category 4 | 50% |
| Category |
NCD's Reserved |
|---|---|
| Category 1 | 100,000 |
| Category 2 | 100,000 |
| Category 3 | 300,000 |
| Category 4 | 500,000 |
| Total NCD's | 1,000,000 |
| 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 | Annually | Annually | Annually | NA | NA | NA | NA |
| Tenor | 24 months | 38 months | 60 months | 24 months | 38 months | 60 months | 24 months | 38 months | 60 months | 90 months |
| Coupon Rate | 9.25% | 9.50% | 9.75% | 9.50% | 9.75% | 10.00% | 9.25% | 9.50% | 9.75% | 9.67% |
| Amount on Maturity | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,000 | Rs 1,193.56 | Rs 1,333.72 | Rs 1,592.29 | Rs 2,000 |
The NCDs proposed to be issued under this Issue have been rated [ICRA] AA (Stable) by ICRA for an amount of up to Rs 40,000 million and have been rated CRISIL AA/Stable by CRISIL for an amount up to Rs 40,000 million. The rating of the NCDs by ICRA and CRISIL indicates a high degree of safety regarding timely servicing of financial obligations.
The promoters of the company are:
1. M G George Muthoot,
2. George Alexander Muthoot,
3. George Thomas Muthoot,
4. George Jacob Muthoot
The Net Proceeds raised through this Issue will be utilized for the purpose of-:
1. Lending- 75% of the amount raised and allotted in this Issue
2. General Corporate Purposes- 25% of the amount raised and allotted in this Issue
This issue is rated ICRA AA/Stable and CRISIL AA/Stable. The rating of the Secured NCDs and Unsecured NCDs by ICRA and CRISIL indicates high degree of safety regarding timely servicing of financial obligations.
NCDs have tenure of 24 months, 38 months, 60 months and 90 months. It offers coupon rates ranging from 9.25% to 10.00% based on the tenure and the interest payment options.
The Muthoot Finance NCD (May 2019) was subscribed 8.97 times on June 10, 2019 6:00:00 PM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 4 | 10.77x |
| Category 3 | 7.01x |
| Category 2 (NII) | 12.86x |
| Category 1 (QIB) | 2.00x |
| Total | 8.97x |
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Muthoot Finance Limited
Muthoot Chambers,
Opp Saritha Theatre Complex, 2nd Flr,
Banerji Road, Kochi 682 018
Phone: (+91 484) 239 4712
Email: ncd@muthootgroup.com
Website: http://www.muthootfinance.com
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: mfl.ncd2019@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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