Muthoot Finance (Tranche III) NCD April 2021 Details – Issue Date, Review & Interest Rates
Muthoot Finance is the largest gold loan NBFC in India in terms of loan portfolio. According to the ICRA Analytics Limited (Formerly known as ICRA Management Consulting Services Ltd) Industry Report, Gold Loans Market in India, 2020 (“ICRA Analytics Industry Report 2020”), the company ranked the largest gold loan company in India in terms of loan portfolio as of March 31, 2020.
Muthoot Finance is the largest branch network among gold loan NBFCs as of March 31, 2020,. Muthoot Finance branch network has expanded significantly from 373 branches as of March 31, 2005 to 4,632 branches as of December 31, 2020, comprising 792 branches in northern India, 2,777 branches in southern India, 754 branches in western India and 309 branches in eastern India covering 22 states, the national capital territory of Delhi and six union territories in India.
Muthoot Finance Limited issued the Secured Redeemable non-convertible Debentures (NCD) subscription from 8th April, 2021 and ending on 29th April, 2021.
Muthoot Finance NCDs tenure will be for 26 months, 38 months, 60 months and 120 months.
Muthoot Finance NCD April 2021 Details
| Description | Details |
|---|---|
| Security Name | Muthoot Finance Limited Tranche III |
| Security Type | Secured Redeemable non-convertible Debentures |
| Issue Period | Apr 08, 2021 – Apr 29, 2021 |
| Issue size | Rs.1,000 million |
| Issue Price | Rs.1000 per NCD |
| Face value | Rs.1000 per NCD |
| Market Lot | 1 NCD |
| Minuimum Lot Size | 10 NCD (Rs.10000) |
| Listing At | BSE |
| Credit Rating | ‘[ICRA] AA+/ “Stable” by ICRA and “CRISIL AA+/Stable” by CRISIL |
| Allotment | First Come First Serve Basis |
Objects of the Issue
- For the purpose of lending- minimum of 75% of the amount raised and allotted in the Issue
- For General Corporate Purposes- shall not exceed 25% of the amount raised and allotted in the Issue
Also Read : Muthoot Fincorp NCD April 2021 Details
Terms of the NCDs – Interest Rates & Tenor
| Tenure | 38 months | 60 months | 26 months | 38 months | 60 months | 120 months | 38 months | 60 months |
| Options | I | II | III | IV | V | VI | VII | VIII |
| Frequency of Interest Payment | Monthly | Monthly | Annually | Annually | Annually | Annually | NA | NA |
| Nature | Secured | Secured | Secured | Unsecured | Unsecured | Secured | Secured | Secured |
| Minimum Application | 10 NCDs (Rs 10,000) (across all options of NCDs) | |||||||
| In multiples, of | 1 NCD after the minimum application | |||||||
| Face Value of NCDs (Rs/NCD) | Rs 1,000 | |||||||
| Issue Price (Rs /NCD) | Rs 1,000 | |||||||
| Coupon (%) per annum | 6.85% | 7.35% | 6.60% | 7.10% | 7.60% | 8.00% | NA | NA |
| Amount on Maturity (Retail) | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,203 | 1,252.26 | 1,459.15 |
Muthoot Finance NCD April 2021 Lead Manager(s)
- Edelweiss Financial Services Ltd
- JM Financial Consultants Private Limited
- Equirus Capital Private Limited
- A.K. Capital Services Limited
Muthoot Finance NCD April 2021 Registrar to the Issue
Muthoot Finance NCD April 2021 – Documents
Muthoot Finance NCD April 2021 – Important FAQs
When is the Muthoot Finance NCD April 2021 issue open date ?
The Muthoot Finance NCD issue open date is on 8th April, 2021
When is the Muthoot Finance NCD April 2021 issue close date ?
The Muthoot Finance NCD issue close date is on 29th April, 2021
When is the price for one NCD for Muthoot Finance NCD April 2021 issue ?
The price band is Rs 1000 per NCD and minimum lot size is 10 Bonds (Rs. 10,000)
How to Apply Muthoot Finance NCD April 2021 issue?
Apply from your demat account. You can apply via downloading form from the official website and filling up all the details with the cheque of said amount. You can submit it to the collection centres.