Opening Date
29 Apr 2025
Closing Date
13 May 2025
Yield
Upto 10.00%
Tenure
Upto 72 Months
Ongoing IPO
Opening Date
29 Apr 2025
Closing Date
13 May 2025
Time to close
Yield
Upto 10.00%
Tenure
Upto 72 Months
| Issue Size (Including Green Shoe Option) | 350 | ||
| Face Value | 1000 | ||
| Coupon | Upto 10.00% | ||
| Minimum Number of Bonds | 10 | ||
| Lot Size (Multiplier) | 1 | ||
| Allotment Date (Tentative) | 21 May 2025 | ||
| Listing Date (Tentative) | 22 May 2025 | ||
| 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 | VIII | IX | X | XI | XII |
Nature Of NCDs | Secured Redeemable Non-Convertible Debentures | |||||||||||
Who Can Apply | Everyone | |||||||||||
Tenure | 24 Months | 36 Months | 60 Months | 72 Months | 24 Months | 36 Months | 60 Months | 72 Months | 24 Months | 36 Months | 60 Months | 72 Months |
Frequency of Interest payment | MONTHLY | MONTHLY | MONTHLY | MONTHLY | YEARLY | YEARLY | YEARLY | YEARLY | CUMULATIVE | CUMULATIVE | CUMULATIVE | CUMULATIVE |
Best Coupon Rate (% p.a.) for: | ||||||||||||
Category 1 | 9.00 % | 9.25 % | 9.45 % | 9.55 % | 9.40 % | 9.65 % | 9.90 % | 10.00 % | -N.A.- | -N.A.- | -N.A.- | -N.A.- |
Category 2 | 9.00 % | 9.25 % | 9.45 % | 9.55 % | 9.40 % | 9.65 % | 9.90 % | 10.00 % | -N.A.- | -N.A.- | -N.A.- | -N.A.- |
Category 3 | 9.00 % | 9.25 % | 9.45 % | 9.55 % | 9.40 % | 9.65 % | 9.90 % | 10.00 % | -N.A.- | -N.A.- | -N.A.- | -N.A.- |
Category 4 | 9.00 % | 9.25 % | 9.45 % | 9.55 % | 9.40 % | 9.65 % | 9.90 % | 10.00 % | -N.A.- | -N.A.- | -N.A.- | -N.A.- |
Effective Yield (% p.a.) for: | ||||||||||||
Category 1 | 9.38 % | 9.65 % | 9.87 % | 9.97 % | 9.40 % | 9.64 % | 9.89 % | 10.00 % | 9.40 % | 9.65 % | 9.90 % | 10.00 % |
Category 2 | 9.38 % | 9.65 % | 9.87 % | 9.97 % | 9.40 % | 9.64 % | 9.89 % | 10.00 % | 9.40 % | 9.65 % | 9.90 % | 10.00 % |
Category 3 | 9.38 % | 9.65 % | 9.87 % | 9.97 % | 9.40 % | 9.64 % | 9.89 % | 10.00 % | 9.40 % | 9.65 % | 9.90 % | 10.00 % |
Category 4 | 9.38 % | 9.65 % | 9.87 % | 9.97 % | 9.40 % | 9.64 % | 9.89 % | 10.00 % | 9.40 % | 9.65 % | 9.90 % | 10.00 % |
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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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Application process on BondsIndia platform is simple and seamless.
Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with BondsIndia.
Muthoot Fincorp Limited is non-deposit accepting NBFC registered with the RBI bearing registration no. 16.00170 dated July 23, 2002 under Section 45 IA of the RBI Act. Muthoot Fincorp Limited was incorporated on June 10, 1997, as Muthoot Debt Management Services Limited as a public limited company under the provisions of the Companies Act, 1956. The Company received a certificate for commencement of business on July 3, 1997. Subsequently, the name of the Company was changed to Muthoot Fincorp Limited, and a fresh certificate of incorporation dated March 19, 2002 was issued to the Company by the Roc. The Company is one of the prominent gold loan players in the Indian market.
The personal and business loans secured by gold jewelry and ornaments (Gold loans) offered by the Company are structured to serve the business and personal purposes of individuals who do not have ready or timely access to formal credit or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements. They have been engaged in the Gold loans business for over two decades and are headquartered in Kerala, India. The Company provides retail loan products, primarily comprising of Gold loans. The Gold loan products include Muthoot Blue Super Value Loan, Swarna Sureksha Super Value, Easy Blue, Easy Max, Easy Pro, Restart India Pradhan, Easy Scale up and 24x7 Express Gold loan The product of the Company, the Express Gold loan can be utilised by individuals who require quick loans against their gold jewellery and who have an existing loan with the Company. This is a type of top up loan.
Established market position in gold financing, supported by the extensive experience of the promoters
MFL has an established market position in gold financing. The promoters have spent over seven decades in lending against gold jewelry. Over the years, the group has established a strong reputation and brand in South India and has an appropriate assessment and underwriting methodology. The companys gold loan AUM stood at Rs 24,444 crore as of September 2024 in comparison to Rs 20,484 crore in fiscal 2024.
Diversified product profile of the MPG
The MPG has diversified its product profile over the past few years. Currently, the group operates in five major segments: loan against gold jewelry, two-wheeler finance, microfinance, housing finance and small business loans. Overall managed AUM of the group was around Rs 45,462 crore as on September 30, 2024 (Rs 39,170 crore as on March 31, 2024)
Improvement in capitalisation with the recent infusion
Net worth at standalone level stood at Rs 4,923 crore (including CCCPS) as on September 30, 2024, against Rs 4,423 crore as on March 31, 2024. Capitalization is further supported by low asset-side risks (security of gold jewelry, which is liquid and in the lenders possession). On a consolidated level, net worth stood at Rs 6,570 crore (including CCCPS) as on March 31, 2024, against Rs 4,904 crore (adjusted for real estate and cash) as on March 31, 2023, which was bolstered by recent capital infusion in the microfinance subsidiary during December 2023 through an IPO with fresh equity of Rs 760 crore and Rs 200 crore through offer for sale.
Healthy asset quality in the gold loan segment to support overall group asset quality
Gross non-performing assets (GNPAs) for MFL stood at 1.4% as of September 2024 against 1.6% in March 2024. Furthermore, there is negligible impact of the Reserve Bank of India (RBI) clarification released in November 2021 on the NPAs as gold loans are demand loans where the interest and principal are due for payment at the end of the tenure. Nevertheless, during the last 6-8 quarters, the company steadily commenced lending to the MSME retail outlets and has also been offering LAP loans to salaried customers (against collateral of property).
Geographical concentration in portfolio
High geographical concentration persists, with South India accounted for around 55% of the gold loan portfolio as on September 30, 2024, though it improved from 70% as on March 31, 2019. This was achieved by increase in per branch business from branches other than those in southern India; opening of new branches in North, East and South; and closure or merger of non-viable branches in South India.
Potential challenges associated with the non-gold loan segments
The non-gold segments accounted for 48% of the overall portfolio as on March 31, 2024. While MPG has managed to grow these businesses and increase the segmental share over the last 2-3 years, potential challenges linked to seasoning of the loan book and asset quality remain. In fiscal 2024, microfinance and housing finance portfolios registered a double-digit growth of 33% and 36%, respectively, while vehicle loan portfolio degrew by 4%. However, asset quality in both the microfinance and vehicle finance segments has improved
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