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IPO

BondsIndia

AA+

Opening Date

6 Oct 2022

Closing Date

28 Oct 2022

Yield

Upto 8.00%

Tenure

Upto 60 Months

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Home   /   IPO   /   Muthoot Finance Limited

IPO

MUTHOOT FINANCE LIMITED

Ongoing IPO

MUTHOOT FINANCE LIMITED

Opening Date
06 Oct 2022

BondsIndia

AA+

Closing Date
28 Oct 2022

bondsindia

Time to close

Yield
Upto 8.00%

Tenure
Upto 60 Months

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IPO Details

IPO Details

Issue Size (Including Green Shoe Option) 300.00 crores
Face Value ₹1000
Coupon Upto 8.00%
Minimum Number of Bonds 10
Lot Size (Multiplier) 1
Allotment Date (Tentative) 03 Nov 2022
Listing Date (Tentative) 07 Nov 2022
Exchange Bid Time (24 Hours) 10:00 to 17:00

Documents attached

Information Memorandum

 

BondsIndia
Product Note

 

BondsIndia

*Allotment on first come first serve basis

 

ISSUE STRUCTURE

Series
I
II
III*
IV
V
VI
VII
Nature of NCDs
Secured Redeemable Non-Convertible Debenture
Who Can Apply
All categories of investors (Category I, II, III and IV)
Minimum Application 
10,000 (10 NCDs) across all Series
Face Value/ Issue Price of NCDs (₹/ NCD) 
1,000
In Multiples of thereafter (₹) 
1,000 (1 NCD)
Tenor (Months)
36
60
24
36
60
36
60
Frequency of Interest payment
Monthly
Monthly
Annual
Annual
Annual
Cumulative
Cumulative
Base Coupon Rate (%p.a) for :
Category I & II
7.00%
7.25%
7.00%
7.25%
7.50%
NA
NA
Category III & IV
7.00%
7.25%
7.00%
7.25%
7.50%
NA
NA
Coupon Rate (%p.a) with additional incentive on Base Coupon Rate on any Record Date as applicable to Category III & IV
Category I & II
7.00%
7.25%
7.00%
7.25%
7.50%
NA
NA
Category III & IV
7.50%
7.75%
7.50%
7.75%
8.00%
NA
NA
Effective Yield (%p.a) for:
Category I & II
7.00%
7.25%
7.00%
7.25%
7.50%
7.25%
7.50%
Category III & IV
7.50%
7.75%
7.50%
7.75%
8.00%
7.75%
8.00%
Amount (₹ / NCD) on Maturity
Category I & II
1,000
1000
1,000
1,000
1000
1,233.65
1,435.63
Category III & IV
1,000
1000
1,000
1,000
1000
1,250.98
1,469.33
Maturity / Redemption Date (years from the Deemed date of Allotment)
36
Months
60
Months
24
Months
36
Months
60
Months
36
Months
60
Months
Put And Call Option
Not Applicable
*The Company shall allocate and allot Series III NCDs wherein the Applicants have not indicated the choice of the relevant NCD Series.

How to invest in the Muthoot Finance Limited IPO?

Application process on BondsIndia platform is simple and seamless.

•Click on the details of the company on the home page

•Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank and Demat details

•Then, confirm the quantity and price and select payment method.

•That’s all folks , bidding complete!

Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.

Why choose BondsIndia?

BondsIndia is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. BondsIndia brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.

BondsIndia ditches the traditional ways of investing by offering a Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Muthoot Finance Limited IPO on BondsIndia’s website.

Place your bid in three simple steps:

1

Key in Basic Details

2

Choose the IPO Series

3

Place the bid

How to invest in the
Muthoot Finance Limited ?

Application process on BondsIndia platform is simple and seamless.

  • Click on the details of the company on the home page
  • Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank, and Demat details
  • Then, confirm the quantity and price and select a payment method.
  • That’s all folks, bidding complete!

Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.

AUM

70,555 Crs

GNPA

3.80%

NPA

3.40%

  • Muthoot Finance Limited
    Muthoot Finance Limited, was originally incorporated at Kochi, Kerala as a private limited company on March 14, 1997 under the provisions of the Companies Act, 1956, with the name “The Muthoot Finance Private Limited”. Subsequently, by a fresh certificate of incorporation dated May 16, 2007, our name was changed to “Muthoot Finance Private Limited”. Our Company was converted into a public limited company on November 18, 2008 with the name “Muthoot Finance Limited” and received a fresh certificate of incorporation consequent to change in status on December 02, 2008 from the Registrar of Companies, Kerala and Lakshadweep. For further details regarding changes to the name and registered office of our Company, see section titled “History and Main Objects” on page 88 of the Shelf Prospectus. Our Company is a Systemically Important Non- Deposit Taking Non- Banking Financial Company, registered with the Reserve Bank of India under Section 45-IA of the RBI Act, 1934 having registration no.N.16.00167 dated December 12, 2008.
  • Products
    1. Gold Loans
  • Established franchise and leadership position in gold loan segment MFL has a track record of around two decades in the gold loan business and is India’s largest gold loan focussed non-banking financial company (NBFC) with a total portfolio of Rs. 58,053 crore (of which 99% is gold loan) as on March 31, 2022; the portfolio grew by 10.3% on a year-on-year (YoY) basis. The consolidated portfolio stood at Rs. 64,494 crore in March 2022 compared to Rs. 58,280 crore in March 2021, of which gold, microfinance and housing accounted for 90.0%, 6.8% and 2.3%, respectively.

    Borrowings have decreased in last few quarters. As a result, gearing has increased from 4 times on March 31, 2020 to 2.8 times as of December 31, 2021.
  • Healthy earnings performance The company’s consolidated net profitability remained healthy with the return on managed assets (RoMA) at 5.5% in FY2022, notwithstanding the moderation from 6.1% in FY2021 (6.5% in FY2020). The consolidated net profitability remained in the range of 5.5-6.5% during FY2018 to FY2022. The NIM (as a percentage of AMA) was lower in FY2022 and FY2021 at 10.6% and 11.4%, respectively, vis-à-vis 13.0% and 12.9% in FY2020 and FY2019, respectively because of the higher on-balance sheet liquidity maintained by the company. Moreover, MFL offered gold loans at very low rates (rate of interest below 7% per annum) for a short duration between Q3 FY2022 and Q4 FY2022. The operating profitability, however, was supported by the improvement in the operating cost ratio to 3.0% in FY2022 (3.3% in FY2021) vis-à-vis 4.3-4.6% during FY2017-FY2020.
  • Capitalisation to remain comfortable over the medium term MFL has a comfortable capitalisation profile with a standalone gearing of 2.8 times as on March 31, 2022 and 3.1 times as on March 31, 2021 (3.2 times as on March 31, 2020), aided by good internal capital generation. The consolidated managed gearing stood at 2.9 times as on March 31, 2022. MFL’s standalone net worth was Rs. 18,344.6 crore as on March 31, 2022 (Rs. 15,238.9 crore as on March 31, 2021). The company is expected to be comfortably placed to meet the medium-term capital requirements of its subsidiaries without affecting its own capital structure. ICRA expects MFL’s consolidated managed gearing to remain below 4.0 times over the medium term.
  • Performance of non-gold segments to remain a monitorable; sizeable share of gold loans would support overall portfolio quality – MFL’s standalone portfolio almost entirely consists of gold loans and it has diversified its exposure via its subsidiaries, namely Belstar Microfinance Limited (Belstar; microfinance), Muthoot Homefin (India) Limited (MHL; affordable housing) and Muthoot Money Limited (MML; vehicle finance). The consolidated portfolio is currently concentrated towards gold loans, comprising 90% of the loan book while microfinance, affordable housing and vehicle finance accounted for 6.8%, 2.3% and 0.3%, respectively, as on March 31, 2022.
  • Operations concentrated in South India MFL’s operations are largely concentrated in South India, which constituted 60% of its total branch network and 50% of its total loan portfolio as on March 31, 2022. ICRA, however, notes that the share of the portfolio in South India has reduced from 57% in March 2015. Geographical diversification is expected to improve steadily over the medium to long term with an improvement in the scale of the gold loan portfolio and the stabilisation of the performance of the non-gold asset segments.
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* Investments in debt securities are subject to risks. Read all the offer related documents carefully.
N/A stands for Not Applicable

SEBI Registration No. : INZ000296636 | BSE Member ID: 6746 | NSE Member ID: 90329

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