HSL Mobile App Muthoot Finance Ltd - NCD
Muthoot Finance Limited (MFL) is the largest gold loan NBFC in India in terms of loan portfolio and is a Systemically Important Non-Deposit Taking NBFC” (NBFC-ND-SI) headquartered in the south Indian state of Kerala.MFL provides personal loans and business loans secured by gold jewelry, or Gold Loans, primarily to individuals who possess gold jewelry but are not able to access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements. As of December 31, 2018 MFL employed 24,063 persons in its operations. MFL also relies on bank loans and subordinated debt instruments as its sources of funds. As of March 31, 2018, MFL had 876.95 crore in outstanding Muthoot Gold Bonds and Rs. 20,391.03 crore in other borrowings.
Issue Details
| Issuer | Muthoot Finance Ltd ( View Report ) |
| Issue Size | Base Issue of Rs. 100 crores with an option to retain oversubscription upto Rs. 900 crores aggregating to Rs. 1000 crores. |
| Issue |
Public Issue by the Company of secured redeemable non-convertible debentures of face value of Rs1,000 each (“NCDs”) for an amount of Rs 100 crore (“Base Issue”) with an option to retain oversubscription up to Rs 900 crore aggregating upto 10,000,000 NCDs amounting to RS 1,000 crore (“Tranche II Issue Limit”) (“Tranche II Issue”) which is within the shelf limit of Rs 4,000 crore and is being offered by way of the Tranche II Prospectus dated May 03, 2019 containing, inter alia, the terms and conditions of this Tranche II Issue (“Tranche II Prospectus”), which should be read together with the Shelf Prospectus dated February 05, 2019 (“Shelf Prospectus”) filed with the Registrar of Companies, Kerala and Lakshadweep, the Stock Exchange and the SEBI. |
| Rating |
“CARE AA; Positive” and “CRISIL AA/Stable” |
| Issue opens |
Friday, 10th May 2019 |
| Issue closes | Monday, 10th June 2019 |
| Issue Price | Rs. 1,000 per NCD |
| Minimum Application | Rs. 10,000/- (10 NCDs) across all Series and in multiples of 1 (one) NCD of Rs 1,000/- each thereafter |
| Listing | The NCDs are proposed to be listed on BSE. |
SPECIFIC TERMS FOR EACH SERIES OF NCDs
| Terms and conditions in connection with Secured NCDs****Options | I | II | III | IV | V | VI | VII | VIII | IX | X |
| Frequency of interest Payment | Monthly* | Monthly* | Monthly* | Annually** | Annually** | Annually** | N.A. | N.A. | N.A. | N.A. |
| Minimum Application | Rs. 10,000/- (10 NCD) across all series collectively | |||||||||
| In Multiples of thereafter (`) | 1,000/- (1 NCD) | |||||||||
| Tenor from Deemed Date of Allotment | 24 months | 38 months | 60 months | 24 months | 38 months | 60 months | 24 months | 38 months | 60 months | 90 months |
| Coupon Rate | 9.25% | 9.50% | 9.75% | 9.50% | 9.75% | 10.00% | NA | NA | NA | NA |
| Effective Yield (per annum) ***** | 9.25% | 9.50% | 9.75% | 9.50% | 9.75% | 10.00% | 9.25% | 9.50% | 9.75% | 9.67% |
| Mode of payment | Through various options available | |||||||||
| Amount (Rs./ NCD) on Maturity*** | Rs. 1,000 | Rs. 1,000 | Rs. 1,000 | Rs. 1,000 | Rs. 1,000 | Rs. 1,000 | Rs. 1,193.56 | Rs.1,333.72 | Rs. 1,592.29 | Rs. 2,000 |
| Put and Call Option | N.A | |||||||||
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* With respect to Options where interest is to be paid on a monthly basis, relevant interest will be calculated from the first day till the last date of every month during the tenor of such NCDs, and paid on the first day of every subsequent month. For the first interest payment for NCDs under the monthly options, interest from the Deemed Date of Allotment till the last day of the subsequent month will be clubbed and paid on the first day of the month next to that subsequent month. |
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