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Incorporated in 1939, Muthoot Mercantile Limited is a non-banking financial company engaged in the business of lending loans against the security of Gold, Investments, Health Insurance, Forex Services, and Money Transfer.
The Company has branches throughout Kerala, Tamil Nadu, Maharashtra, Odisha, Delhi, Haryana, Madhya Pradesh, Punjab, and Uttar Pradesh, with potential for further expansion. The company is headquartered in Thiruvananthapuram, a city in the south Indian state of Kerala. They have been in the money lending business for decades, mainly focused on small-scale lending against households and used gold jewellery. Over 84 years, the company has evolved its operations.
| Issue Open | August 23, 2024 - September 5, 2024 |
| Security Name | Muthoot Mercantile Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 75.00 Crores |
| Issue Size (Oversubscription) | Rs 75.00 Crores |
| Overall Issue Size | Rs 150.00 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 | IND BBB/Stable by by India Ratings & Research Private Limited |
| Tenor | 400 days, 20, 36,60 and 73 Months |
| Series | Series I to IX |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Mitcon Credentia Trusteeship Services Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| Category 4 | % |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 75,000 |
| Non-Institutional | 300,000 |
| Retail | 375,000 |
| Category 4 | 0 |
| Total NCD's | 750,000 |
Muthoot Mercantile Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 |
|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Cumulative | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 400 Days | 400 Days | 20 Months | 20 Months | 36 Months | 36 Months | 60 Months | 60 Months | 73 Months |
| Coupon (% per Annum) | 10.70% | NA | 10.80% | NA | 11.25% | NA | 11.50% | NA | NA |
| Effective Yield (% per Annum) | 11.24% | 10.80% | 11.35% | 10.77% | 11.85% | 11.08% | 12.13% | 11.03% | 12.07% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,118.95 | Rs 1,000.00 | Rs 1,185.83 | Rs 1,000.00 | Rs 1,370.50 | Rs 1,000.00 | Rs 1,687.50 | Rs 2,000.00 |
The NCDs proposed to be issued under this Issue have been rated IND BBB/Stable by India Ratings & Research Private Limited
Muthoot Mercantile Limited's revenue increased by 41.25% and profit after tax (PAT) rose by 6.85% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 606.51 | 420.36 | 316.24 |
| Revenue | 94.67 | 67.02 | 49.39 |
| Profit After Tax | 18.19 | 17.02 | 14.02 |
| Reserves and Surplus | 106.14 | 87.95 | |
| Amount in ₹ Crore | |||
The Company proposes to utilise the funds which are being raised through the Issue, after deducting the Issue-related expenses to the extent payable by the company towards funding the following objects
The Muthoot Mercantile NCD August 2024 was subscribed 1.34 times on September 5, 2024 5:00:00 PM. The NCD subscribed 1.68 times in Retail, 1.23 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 1.68x |
| Non-Institutional | 1.23x |
| Institutional | 0.00x |
| Total | 1.34x |
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Muthoot Mercantile Limited
1st Floor, North Block, Muthoot Floors
Opposite W&C Hospital, Thycaud
Thiruvananthapuram 695 014, Kerela, India
Phone: +91-471-277-4800
Email: cs@muthootenterprises.com
Website: https://muthootenterprises.com/
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Phone: 04067162222, 04079611000
Email: mml.ncdipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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