Muthoot Finance Limited - Tranche I Issue NCD APR 2023 Detail

 

Issue Open

 APRIL 12, 2023 APRIL 26, 2023
Issuer Muthoot Finance Limited - Tranche I Issue
Instrument Secured Rated, Listed, Redeemable, Non-Convertible Debentures
Issue Size Base Issue size of Rs. 75 crores with an option to retain oversubscription up to Rs. 225 crores aggregating up to Rs. 300 crores.
Issue Price Face Value of INR 1,000/-
Face Value ₹ 1,000/- per NCD.
Minimum Application size ₹ 10,000/-
Listing At BSE, NSE
Credit Rating "[ICRA] AA+/Stable" by India Ratings & Research Pvt Ltd
Payment Frequency Half Yearly basis from the Deemed Date of Allotment
Issuance and Trading Compulsorily in dematerialised form.
Basis of Allotment First Come First Serve Basis
Put/Call Option There is no put/call option for the NCDs

 

 

  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7
Frequency of InterestPayment Monthly  Monthly  Annual  Annual  Annual NA NA
Nature Secured            
Tenor 37 months 61 months 25 months 37 months 61 months 37 months 61 months
Coupon Rate (% perannum) (A) (Retail & HNI) 7.75% 7.85% 7.75% 8.00% 8.10% NA NA
Additional incentiveabove Coupon Rate (%per annum) on anyRecord Date as applicableto Category III andCategory IV investors (B) 0.50% 0.50% 0.50% 0.50% 0.50% NA NA
Aggregate of the CouponRate and the additionalincentive above theCoupon Rate on anyRecord Date as applicableto Category III andCategory IV investors {(A)+ (B)}        8.25%        8.35%      8.25%          8.50%  8.60% NA NA
Effective Yield (% per Annum)  8.25%  8.35%  8.25%  8.50%  8.60% 8.50% 8.60%
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,286.34 Rs. 1,521.42

 


ALLOCATION RATIO 


Category NCD's Allocated
Institutional 5%
Non-Institutional 5%
HNI 40%
Retail 50%



Category I Category II Category III Category IV
  • Public financial institutions, scheduledcommercial banks, Indian multilateral andbilateral development financial institutionswhich are authorised to invest in theNCDs;
  • Provident funds and pension funds witha minimum corpus of Rs 250 million,superannuation funds and gratuity funds,which are authorised to invest in theNCDs;
  • Alternative Investment Funds, subject toinvestment conditions applicable to themunder the Securities and Exchange Boardof India (Alternative Investment Funds)Regulations,2012;
  • Resident Venture Capital Funds registeredwith SEBI;
  • Insurance Companies registered withIRDAI;
  • State industrial development corporations;      Insurance funds set up and managed by the army, navy, or air force of the Union of India;  
  • Insurance funds set up and managed by the Department of Posts, the Union of India;                                                                        Systemically Important Non-Banking Financial Company registered with the RBI and having a net-worth of more than Rs 5,000 million as per the last audited financial statements;                                   
  • National Investment Fund set up by resolution no. F. No. 2/3/2005 –DDII dated November 23, 2005 of the Government of India published in the Gazette of India; and                                                              
  • Mutual Funds registered with SEBI.
  • Companies within the meaning of Section2(20) of the Companies Act,2013;
  • Statutory bodies/ corporations andsocieties registered under the applicablelaws in India and authorised to invest in theNCDs;
  • Co-operative banks andregional ruralbanks;
  • Trusts includingpublic/private charitable/religious trustswhich are authorised to invest in theNCDs;
  • Scientific and/or industrial researchorganisations, which are authorised toinvest in theNCDs;
  • Partnership firms in the name ofthepartners  Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009);                  Association of Persons; and Any other incorporated and/ or unincorporated body of persons.
  • Resident Indian individualsor Hindu Undivided Familiesthrough the Karta applying foran amount aggregating toabove INR 10,00,000 across alloptions of NCDs in the Issue.               
  • Retail individualinvestors, resident Indianindividuals or HinduUndivided FamiliesIIthrough the Kartaapplying for an amountaggregating up to andincluding Rs 10,00,000across all options ofNCDs in the Issue andshall include RetailIndividual Investors, whohave submitted bid for anamount not more thanUPI Application Limit(being Rs 500,000 forpublic issue of debtsecurities) in any of thebidding options in theIssue (including HUFsapplying through their

 

 

APPLICATIONS CANNOT BE MADE BY


(a) Minors without a guardian name (A guardian may apply on behalf of a minor. However, the name of the guardian will need to be mentioned on     the Application Form);
(b) Foreign nationals;
(c) Persons resident outside India;
(d) Foreign Institutional Investors;
(e) Non Resident Indians;
(f) Qualified Foreign Investors;
(g) Overseas Corporate Bodies;
(h) Foreign Venture Capital Funds;
(i) Persons ineligible to contract under applicable statutory/ regulatory requirements.

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