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Incorporated in 1997, Muthoot Fincorp Limited is a non-deposit-taking NBFC. The company is primarily engaged in the business of offering personal and business loans which are secured by gold ornaments and jewellery. The gold loan product is available for personal and business purposes to meet the short-term liquidity requirements of individuals.
The Gold loan portfolio of the company as of June 30, 2023, comprised approximately 31 lakhs of loan accounts.
As of June 30, 2023, the company operated out of 3,619 branches located across 24 states, including the union territory of Andaman and Nicobar Islands and the national capital territory of Delhi, and employed 19,008 employees including 110 contracted experts in its operations.
Some of the Gold Loan products offered by the company are:
Muthoot Blue Guide Gold loan
Muthoot Blue Bright Gold loan
Muthoot Blue Power Gold loan
Muthoot Blue Bigg Gold loan
Muthoot Blue Smart Gold loan
24x7 Express Gold loan
In addition to the Gold loan business, the Company provides foreign exchange conversion and money transfer services as sub-agents of various registered money transfer agencies. Muthoot Fincorp is also engaged in the following business:
Generation and sale of wind energy through its wind farms located in Tamil Nadu; and
Real estate business through joint venture developers of the company-owned land parcels.
| Issue Open | October 13, 2023 - October 27, 2023 |
| Security Name | Muthoot Fincorp Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 750.00 Crores |
| Issue Size (Shelf) | Rs 1,100.00 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 and 96 Months |
| Series | Series I to X |
| Payment Frequency | Monthly, Annual and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Vardhman Trusteeship Private Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 5% |
| Non-Institutional | 35% |
| Retail | 60% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 37,500 |
| Non-Institutional | 262,500 |
| Retail | 450,000 |
| Category 4 | 0 |
| Total NCD's | 750,000 |
Muthoot Fincorp Limited NCD Coupon Rates
| # | 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) | 8.65% | 8.90% | 9.05% | 9.00% | 9.27% | 9.44% | NA | NA | NA | NA |
| Effective Yield (% per Annum) | 8.99% | 9.26% | 9.42% | 8.99% | 9.26% | 9.43% | 8.99% | 9.26% | 9.43% | 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 1,188.00 | Rs 1,305.00 | Rs 1,570.00 | Rs 2,001.00 |
The company has received rating of CRISIL AA-/Stable by CRISIL Ratings Limited for the NCDs proposed to be issued pursuant to this Issue.
Thomas John Muthoot, Thomas George Muthoot, and Thomas Muthoot are the company promoters.
Muthoot Fincorp Limited's revenue increased by 18.28% and profit after tax (PAT) rose by 56.69% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 32,134.61 | 28,422.47 |
| Revenue | 5,151.33 | 4,355.13 |
| Profit After Tax | 646.42 | 412.55 |
| Net Worth | 4,257.18 | 3,731.16 |
| Reserves and Surplus | ||
| Total Borrowing | ||
| Amount in ₹ Crore | ||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
The Muthoot Fincorp NCD October Tranche II 2023 was subscribed 3.13 times on October 27, 2023 5:00:00 PM. The NCD subscribed 4.60 times in Retail, 1.06 times in Non-Institutional, and 0.07 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 4.60x |
| Non-Institutional | 1.06x |
| Institutional | 0.07x |
| Total | 3.13x |
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Muthoot Fincorp Limited
Muthoot Centre,
TC No 27/3022 Punnen Road
Trivandrum - 695 001
Phone: +91 471 491 1550
Email:
Website: http://www.muthootfincorp.com
Integrated Registry Management Services Private Limited
2nd Floor, Kences Towers,
No.1 Ramakrishna street, North Usman Road,TNagar,
Chennai - 600017
Phone: 044 - 28140801 to 28140803
Email: mfinipo@integratedindia.in
Website: https://www.integratedregistry.in/registrarstosta.aspx?od=1
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