Opening Date
6 Oct 2022
Closing Date
28 Oct 2022
Yield
UPTO 8%
Tenure
UPTO 60 MONTHS
Ongoing IPO
Opening Date
6 Oct 2022
Closing Date
28 Oct 2022
Time to close
Yield
UPTO 8%
Tenure
UPTO 60 MONTHS
| Issue Size (Including Green Shoe Option) | 300 | ||
| Face Value | 1000 | ||
| Coupon | UPTO 8% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 3 Nov 2022 | ||
| Listing Date (Tentative) | 7 Nov 2022 | ||
| Exchange Bid Time (24 Hours) | 10:00 to 17:00 | ||
Documents attached
*Allotment on first come first serve basis
Series | I | II | III | IV | V | VI | VII |
Nature Of NCDs | SECURED REDEEMABLE NON-CONVERTIBLE DEBENTURES | ||||||
Who Can Apply | Everyone | ||||||
Tenure | 36 Months | 60 Months | 24 Months | 36 Months | 60 Months | 36 Months | 60 Months |
Frequency of Interest payment | MONTHLY | MONTHLY | YEARLY | YEARLY | YEARLY | CUMULATIVE | CUMULATIVE |
Best Coupon Rate (% p.a.) for: | |||||||
Category 1 | 7.00 % | 7.25 % | 7.00 % | 7.25 % | 7.50 % | -N.A.- | -N.A.- |
Category 2 | 7.00 % | 7.25 % | 7.00 % | 7.25 % | 7.50 % | -N.A.- | -N.A.- |
Category 3 | 7.50 % | 7.75 % | 7.50 % | 7.75 % | 8.00 % | -N.A.- | -N.A.- |
Category 4 | 7.50 % | 7.75 % | 7.50 % | 7.75 % | 8.00 % | -N.A.- | -N.A.- |
Effective Yield (% p.a.) for: | |||||||
Category 1 | 7.00 % | 7.25 % | 7.00 % | 7.25 % | 7.50 % | 7.25 % | 7.50 % |
Category 2 | 7.00 % | 7.25 % | 7.00 % | 7.25 % | 7.50 % | 7.25 % | 7.50 % |
Category 3 | 7.50 % | 7.75 % | 7.50 % | 7.75 % | 8.00 % | 7.75 % | 8.00 % |
Category 4 | 7.50 % | 7.75 % | 7.50 % | 7.75 % | 8.00 % | 7.75 % | 8.00 % |
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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 Edelweiss Financial Services Limited IPO on BondsIndia's website.
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RS 70,555 Crs
17,372.24 Crs
15,532.83 Crs
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.
u29bf Products Offered
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 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 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, 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)
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 2019 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 2019 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 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 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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